AML / KYC

UK Sanctions 22 Russian Officials for Conscription Efforts

04/12/2022

The sanctions target officials who have promoted and enforced the conscription of citizens to fight in Russia’s “illegal war in Ukraine”.

Securities / Derivatives

JPX Acquisition to Improve English Disclosures by Listed Companies

04/12/2022

JPXI will acquire SCRIPTS Asia, which creates English transcripts of investor events held by listed companies and distributes them to domestic and overseas investors.

AML / KYC

Police Ad Test Highlights Hong Kong Scam Threat – Report

04/12/2022

A fake raffle webpage run by the police attracted nearly 300,000 visits in just two weeks, highlighting the surge of scam cases in Hong Kong.

Capital / Liquidity

APRA Finalises Standards on Recovery and Exit Planning

04/12/2022

The new standard will come into effect from 1 January 2024 for banks and insurers and from 1 January 2025 for RSE licensees.

Capital / Liquidity

HKFE Invites Firms to Support Development of FX Derivatives Market

04/12/2022

HKFE is seeking liquidity providers and market participants to support the development of liquidity in RMB and INR derivatives contracts.

BSP Issues Rules to Implement New Financial Consumer Protection Law

04/12/2022

The BSP will be able to adjudicate cases involving financial transactions that are of civil nature and order reimbursements up to PHP 10 million.

AML / KYC

US Banks Preparing to Accept More Liability for Zelle Frauds

04/12/2022

Under the planned rules, member banks would be responsible for certain fraudulent transactions made on the Zelle network, even if self-initated by the customer.

AML / KYC

FCA Fines Julius Baer UK Unit for Over ‘Corrupt’ Finders Fees

03/12/2022

Julius Baer improperly paid “corrupt” finder’s fees to a Yukos Group employee in exchange for business from the now-defunct Russian conglomerate.

Enforcement

US Financial Firms to Spend $18bn on Surveillance Tech This Year

03/12/2022

The increased spending comes after multiple financial firms were fined for failing to monitor and keep records on employees’ communications via messaging apps.