Enforcement

Singapore: Hin Leong Founder OK Lim and Children Declared Bankrupt

31/12/2024

OK Lim was sentenced last month to serve 17.5 years in jail for orchestrating one of Singapore’s biggest-ever trade financing frauds.

Enforcement

SFC Fines Ever-Long Securities for IPO Sponsor Failures

30/12/2024

The SFC said Ever-Long Securities failed to perform appropriate due diligence and make complete disclosures in a GEM listing application.

Enforcement

Japan FSA Identifies Two More Safe Deposit Box Thefts

30/12/2024

There are now three cases of employees embezzling customer assets from safe deposit boxes at financial institutions.

Securities / Derivatives

Japan FSA to Establish New Asset Management Division

30/12/2024

The FSA aims to develop the asset management industry as the fourth financial industry pillar alongside banking, securities, and insurance.

Market Infrastructure

SFC, HKMA Issue Revised Derivatives Reporting Guidance

30/12/2024

Revised FAQs and Supplementary Reporting Instructions have been issued to reflect changes taking effect on 29 September 2025.

Sanctions

Russia Already Using Bitcoin in Foreign Trade Transactions – Reports

30/12/2024

Russian Finance Minister said bitcoin  is already being used in foreign trade transactions as part of a new “experimental regime”.

Market Infrastructure

Hong Kong Gazettes Bill for New Company Re-domiciliation Regime

29/12/2024

The Bill to introduce the new company re-domiciliation regime will be introduced into the LegCo for first reading on 8 January 2025.

Sanctions

US Commerce Dept Fines Materials Supplier for Exports to Russia

29/12/2024

Indium shipped solder materials used in electronics manufacturing to Russia on 11 occasions between April 2022 and March 2023

Sanctions

EU Preparing Sanctions Over Attack on Undersea Power Cable

29/12/2024

Separately, Russia has declared a federal state of emergency in response to the ongoing oil spill in the Black Sea.