AML / KYC

US Warns Foreign Banks Against Facilitating Sanctions Evasion

18/05/2022

Foreign banks could fall under US sanctions if they provide material support to a person or entity sanctioned by the US.

Crypto / Digital Assets

Nomura to Establish New Subsidiary Dedicated to Digital Assets

18/05/2022

The new subsidiary will combine digital asset services under a single entity that will have about 100 staff by end-2024.

Crypto / Digital Assets

Korea Regulators Probe Crypto Industry Over Terra Collapse

18/05/2022

Korean crypto exchanges have been asked to share their data on UST and LUNA transactions including and the number of affected investors.

Securities / Derivatives

NSE Launches First SGX Connect Product at GIFT City

18/05/2022

NSE IFSC-SGX Connect is expected to go fully live in July 2022, with the onboarding of SGX members.

Enforcement

Allianz to Pay $6bn to Settle Investor Fraud Cases

18/05/2022

Allianz Global Investors admitted that it violated the federal securities laws, and is disqualified from providing advisory services to US funds for ten years.

Market Infrastructure

Tokyo Bourse to Pilot Carbon Market in September

17/05/2022

The TSE has been commissioned to develop Japan’s first carbon credits market. Full-scale operations will be launched in FY2023-2024.

AML / KYC

US Treasury Outlines Plans to Combat Illicit Finance

17/05/2022

Treasury highlighted efforts to address illicit finance risks associated with shell companies, all-cash real estate purchases, and virtual assets.

Crypto / Digital Assets

South Korea to Enact ‘Digital Assets Basic Act’ in 2023

17/05/2022

More banks will be able to offer services to crypto investors. The Bank of Korea Act will be revised to allow CBDC introduction.

Market Infrastructure

HKEX Sets 13 June Launch Date for New VaR Platform

17/05/2022

The VaR Platform will replace the existing flat-rate model for calculation of margin and HKSCC Default Fund contributions.