Enforcement

OFAC Fines Individual $1.1m for Violating Iran Sanctions

21/11/2024

The violations related to the individual’s use of an IVTS to remit funds to Iran to purchase, renovate, and operate a hotel.

Fintech / Regtech

IAIS Publishes Paper on Supervision of AI in Insurance Sector

21/11/2024

The paper aims to support supervisors when applying the Insurance Core Principles to promote appropriate and globally consistent oversight of the use of AI within the insurance sector.

Capital / Liquidity

BCBS Issues Work Update, Calls for Full Basel III Implementation

21/11/2024

Next month BCBS will publish the final CCR guidelines, a report on the CCyB, and Korea’s NSFR and large exposures assessment reports.

Enforcement

US Finalises Rule to Expand Enforcement Authorities of CFIUS

20/11/2024

The final rule increases penalties for violations and expands the types of information CFIUS can demand from transacting parties and third parties.

Enforcement

CSRC Takes Over Futures Firm for “Out-of-control Management”

20/11/2024

Hehe Futures Co Ltd is controlled by Lin Qiang, a fugitive tycoon who was arrested in Indonesia last month after fleeing China in August 2023.

Crypto / Digital Assets

Nasdaq Launches Options Trading on BlackRock’s Bitcoin ETF

20/11/2024

On the first day of trading, the options contract saw a record-breaking $1.9bn in notional exposure and drove Bitcoin to an all-time high.

Enforcement

US Agencies Probe AML Policies and Systems at Citi – Reports

20/11/2024

The probe centres on Citigroup’s work for Heritage Trust, which holds assets owned by a sanctioned Russian billionaire.

Market Infrastructure

CSRC to Launch New Round of Market Reforms

20/11/2024

Top CSRC officials said at the HKEX Connect Summit that a better environment will be created for international investors.

Sanctions

OFAC Sanctions Israeli Group Over West Bank Violence

20/11/2024

Amana is the largest entity targeted with US sanctions for violence in the occupied West Bank by Israeli settlers.