AML / KYC

OFAC Sanctions Iranian Actors Over Ransomware Activity

15/09/2022

OFAC said the IRGC-affiliated group has launched extensive campaigns across the globe targeting defence, diplomatic, government and private industry personnel.

Singapore Passes Bill to Regulate Debt Collector Conduct

15/09/2022

Debt collectors will have to be screened by police for licensing. Behaviour that threatens the physical safety of debtors will be prohibited.

Securities / Derivatives

HKEX Considers Relaxing Listing Requirements for Tech Firms

14/09/2022

Under the proposals, the revenue requirement for commercialised tech firms would be lowered from HK$500 million to between HK$200-300 million.

Capital / Liquidity

FSB Seeks Feedback on Information Gathering Framework

14/09/2022

The FSB is seeking stakeholder input to inform the revision of its framework for gathering information from FMI Intermediaries to support resolution planning.

Enforcement

Korea Issues Arrest Warrants for Terra Founder, Five Others

14/09/2022

Prosecutors say Terra coins were investment securities under Korea’s capital markets law. Do Kwon is alleged to have committed fraud.

Market Infrastructure

Japan FSA Proposes New Derivatives Reporting Guidance

14/09/2022

The draft guidelines explain the data fields that need to be included in reporting, along with technical specifications and best practices for reporting.

Capital / Liquidity

GHOS Reaffirms Expectations on Full Basel III Implementation

13/09/2022

BCBS oversight body reaffirmed its expectations on Basel III and discussed BCBS work underway on climate and crypto risks.

Securities / Derivatives

Singapore Introduces Bill to Enhance Business Trust Governance

13/09/2022

CEOs will have to disclose interests in transactions. Unlisted business trusts will have to obtain and maintain information on beneficial ownership of their units.

Market Infrastructure

Australia Reintroduces Legislation for Financial Accountability Regime

13/09/2022

If the legislation passes, the FAR will apply to banks six months after commencement, and to insurance and superannuation 18 months after commencement.