AML / KYC

FFIS Takes Stock of AML & Fraud Data Sharing Platforms

03/08/2022

New paper covers 15 different private-private financial information sharing platforms across the US, UK, Singapore, the Netherlands, Switzerland, Estonia and Australia.

Enforcement

SFC Fines TC Capital for Due Diligence Failures in Sponsor Work

03/08/2022

The SFC said there was a need to send a “strong deterrent message” to the industry and market that “sponsor failures will not be tolerated”.

BNM Consults on New Requirements for Adjusters

03/08/2022

The proposed rules impose ‘fit and proper’ requirements on shareholders and key responsible persons of adjusters.

Bangladesh Seeks IMF Loan, Takes Measures to Boost FX Inflows

03/08/2022

Bangladesh has sufficient FX reserves for over five months of imports, providing some cushion. It has also taken measures to address its falling FX reserves.

Securities / Derivatives

Taiwan FSC Tightens Rules for Senior Securities, Futures Personnel

03/08/2022

The rules are aimed at preventing directors from taking on positions at other firms that could affect their performance or create conflicts of interest.

AML / KYC

Moscow Exchange Commences Trading in First Yuan Bonds

03/08/2022

Yuan-denominated bonds will open up an additional source of FX liquidity for Russian borrowers, who have been cut off from the dollar, euro and other foreign currencies.

AML / KYC

US Imposes New Round of Sanctions Against Russia

03/08/2022

The sanctions target Kremlin-connected elites, including retired Olympic gymnast Alina Kabaeva, who is understood to be Putin’s girlfriend.

Market Infrastructure

Guidance Issued for US Transition to T+1 Securities Settlement

02/08/2022

DTCC, SIFMA  and ICI have published guidance to help market participants prepare for the US transition to a T+1 securities settlement cycle in 2024.

Enforcement

Banks Preparing to Pay Fines for Use of Messaging Apps

02/08/2022

US regulators are expected to announce penalties in the coming weeks over the use of unauthorised messaging apps for business communications.