AML / KYC

OCC Issues Order Requiring BofA to Fix AML Deficiencies

28/12/2024

The order requires BofA to obtain OCC approval to launch new products or services that present high money laundering or sanctions risk.

Enforcement

1MDB Files Suit Against Corporate Service Provider Amicorp

28/12/2024

1MDB alleges HK-headquartered Amicorp used shell companies and fraudulent financial structures to facilitate the misappropriation of assets.

AML / KYC

AUSTRAC Publishes Unofficial “Future” Version of AML Act

28/12/2024

The document does not have legal effect but aims to help reporting entities understand the effect of the amendments passed in November.

Enforcement

SFC Imposes Fine and Lifetime Ban Against Fund Manager

28/12/2024

The SFC said the former fund manager’s removal from the industry is “necessary to protect the investing public”.

Crypto / Digital Assets

Thailand Grants Second Digital Asset Custodian Licence

28/12/2024

The digital asset custodian licence was granted to Rakkar, part of SCBX Group’s venture capital arm.

ESG / Sustainability

SEBI Defers Key ESG Reporting Deadline by One Year

28/12/2024

The BRSR Core reporting deadline is deferred by one year until fiscal year 2025-2026 for value chain disclosures and assurance.

AML / KYC

FATF Publishes Six Mutual Evaluation, Four Follow-up Reports

28/12/2024

New reports available for Marshall Islands, Nauru, Timor Leste, PNG, Oman, Argentina, Georgia, Monaco, Croatia, Poland

Sanctions

US Extends Sanctions on HK Officials for Five More Years

27/12/2024

The Hong Kong government said the sanctions will ultimately harm the interests of the US and its companies.

Securities / Derivatives

Bursa Malaysia Proposes Move to Electronic CDS Statements

27/12/2024

From Q1 2025, hard-copy securities account statements will only be available at a fee or under exceptional circumstances.