Securities / Derivatives

SEBI Allows Foreign Funds to Transfer Securities to IFSC Off-Market

07/06/2021

Off-market transfers lower the costs associated with relocating funds to Gift City and make it a more attractive investment destination.

AML / KYC

BSP Orders Banks to Enhance STR Filing Processes

07/06/2021

Incorrect STR filings, as identified by the AMLC in a recent review, could downplay the risk and prioritisation of STRs, particularly when they involve high-risk crimes.

Enforcement

Hong Kong: Appeals Tribunal Overturns Ban Against UBS Banker

07/06/2021

The SFAT concluded that the former UBS banker cannot be held personally responsible for the failings of the China Metal Recycling transaction team.

Securities / Derivatives

SEBI Enters MOU with Luxembourg Securities Regulator

07/06/2021

The MOU will facilitate mutual assistance, supervisory cooperation, and effective enforcement in the securities markets.

AML / KYC

US DOJ Forms Ransomware and Digital Extortion Task Force

06/06/2021

The task force will be used to coordinate efforts to combat ransomware attacks, which will now be treated with the severity of terrorism threats.

AML / KYC

HK Customs Arrests Two for Laundering $5.6 Million

06/06/2021

Two people were arrested for using personal bank accounts to receive payments from the sale of counterfeit goods and launder money.

APRA Publishes New Guide on Using New Data Collection Platform

06/06/2021

The guide provides comprehensive information to assist users in accessing, navigating and using APRA Connect.

AML / KYC

APG Publishes 2nd Follow-up Report on Pakistan

04/06/2021

Pakistan had requested a re-rating on 23 FATF Recommendations: 21 were upgraded, one was not re-rated, and one was downgraded.

AML / KYC

Philippine Financing, Lending Firms Must Register with AMLC by 21 June

04/06/2021

Newly covered financing and lending companies that fail to register with the AMLC by 21 June will incur penalties.