AML / KYC

US Targets Fuel Procurement Network in Latest DPRK Sanctions

11/10/2022

The sanctions are against two Singapore companies, a Marshall Islands entity, and two individuals for illicit ship-to-ship transfers to deliver fuel to North Korea.

Market Infrastructure

FSB Unveils Plans for Next Phase of Cross-Border Payments Work

11/10/2022

The prioritisation plan emphasises a need to strengthen external engagement and partnerships to take forward the roadmap for enhancing cross-border payments.

AML / KYC

US Says Hong Kong Risks Becoming Haven for Sanctioned Russians

11/10/2022

The warning came days after Hong Kong indicated it would not pursue action against a superyacht owned by a sanctioned Russian oligarch that docked in the city.

AML / KYC

HK Victims Have Lost HKD 2.6 billion to Scams This Year

10/10/2022

Online investment fraud accounted for HKD 540 million of all online scams, which is largely attributed to an increase in crypto-related scams.

Capital / Liquidity

European Commission May Scrap Stricter Foreign Bank Rules

10/10/2022

Proposed requirements that would automatically require foreign banks to set up a subsidiary if they reach a certain size may […]

Enforcement

SEBI Cancels Rating Agency Licence for the First Time

10/10/2022

Brickwork Ratings India failed to exercise proper skill, care and diligence while discharging its duties as a credit rating agency, SEBI said.

Market Infrastructure

US, EU Move to Adopt New Data Sharing Framework

10/10/2022

The legal basis for transatlantic data transfers has been uncertain since 2020, after the EU-US Privacy Shield was declared invalid under EU law.

ESG / Sustainability

BSE India Receives Approval to Set Up Social Stock Exchange

10/10/2022

The social stock exchange will allow direct listings from non-profit organisations and for-profit social enterprises.

Philippines Set to Adopt Standardised Forms for Loan Applications

10/10/2022

Lenders will be required to use standard loan application forms, which will make credit more accessible to small businesses.