AML / KYC

FATF Re-rates China on Two More Recommendations

30/11/2022

China was re-rated for progress made in the implementation of PF-related targeted financial sanctions and on beneficial ownership transparency.

Market Infrastructure

CPMI, IOSCO Identify Cyber Resilience Weaknesses at Some FMIs

30/11/2022

Some financial market infrastructures have not yet developed their cyber response and recovery plans to meet the two-hour recovery time objective.

APRA Publishes ‘One-stop Shop’ Guidance for Directors of ADIs

30/11/2022

The guide brings together all of the standards and PPGs needed to help directors navigate requirements that are specific to them, APRA said.

Securities / Derivatives

KRX Launches New Market Segment for Blue Chip Stocks

30/11/2022

The KOSDAQ Global segment comprises 51 companies with a combined market cap of about KRW 78 trillion, which represents 23 percent of the KOSDAQ market.

Capital / Liquidity

BCBS Warns of Risks from Bank Exposures to Leveraged NBFIs

30/11/2022

Bank exposures to NBFIs, particularly highly leveraged firms, could lead to excessive risk concentration and potential liquidity issues.

Crypto / Digital Assets

IOSCO to Develop Regulatory Guidance for Crypto Market

30/11/2022

IOSCO chair Jean-Paul Servais said new standards for regulating “crypto conglomerates” are an “obvious necessity.”

AML / KYC

UK Crypto Fraud Increased 32pc Over One Year Period

30/11/2022

UK police unit Action Fraud said crypto-related fraud losses from October 2021 to September 2022 amounted to $270mn.

AML / KYC

EU to Gain Legal Authority to Punish Sanctions Circumvention

30/11/2022

The move will make it easier for EU authorities to take action against anyone who helps Russia avoid its sanctions.

AML / KYC

OFAC Fines Crypto Firm Kraken for Iran Sanctions Violations

30/11/2022

Kraken was facing a maximum fine of over $272mn. The $362,000 settlement reflects OFAC’s determination the violations were “non-egregious and voluntarily self-disclosed”.