AML / KYC

UK OFSI Has Frozen Over $21b of Russian Linked Assets

13/11/2022

Russia has overtaken Libya and Iran to become the UK’s most-sanctioned nation, the OFSI said in its annual review.

Capital / Liquidity

Korean Commercial Paper Markets Still Under Stress

13/11/2022

New measures announced include more active liquidity support from banks and additional purchasing support from KDB and KODIT.

Securities / Derivatives

APRA Proposes Measures to Improve Super Fund Transfer Process

13/11/2022

The measures are proposed in response to the erosion of member benefits that occurs when successor fund transfers are carried out.

Capital / Liquidity

China Revises Rules for Insurance Industry Bailout Fund

13/11/2022

The rules adjust how contributions to the fund are calculated, so that they reflect each insurance company’s risk level.

AML / KYC

ACCC Calls for Laws Requiring Digital Platforms to Stop Scams

13/11/2022

The ACCC says consumer and competition harms across a range of digital platform services are “widespread, entrenched, and systemic”.

Enforcement

Bursa Malaysia Issues Public Reprimand Over Sponsor Failures

13/11/2022

TA Securities did not assess the internal controls and risk management systems of the listing applicant and falsely represented that it had.

AML / KYC

LME Decides Against Banning Russian Metals from Warehouses

13/11/2022

The LME received feedback that a “material portion” of the market is still planning to buy Russian metal in 2023.

Crypto / Digital Assets

KakaoBank to Open Accounts for Coinone Exchange Users

13/11/2022

Coinone will end its partnership with Nonghyup Bank to increase online withdrawal and deposit limits with KakaoBank.

Philippines Introduces Standard Forms for Business Loan Applications

13/11/2022

Lenders have 18 months to use the new standard form, which the BSP says will make credit more accessible to small businesses.