Sanctions

OFAC Targets Syrian Group Funding Iran’s Quds Force, Houthis

18/11/2024

OFAC sanctions target 13 vessels and companies in Lebanon, Panama, Iran, and the Marshall Islands that own or manage the vessels.

Sanctions

OFAC Penalises MetLife Subsidiary for Violating Iran Sanctions

18/11/2024

The insurer issued group medical and life insurance policies, collected premiums, and paid claims to schools and entities in the UAE and owned by Iran’s government.

Sanctions

EU Parliament Calls for Tougher Sanctions on Russian ‘Ghost Fleet’

18/11/2024

The sanctions will target “all individual vessels as well as their owners, operators, managers, accounts, banks and insurance companies”.

Capital / Liquidity

IAIS Approved Final Version of Insurance Capital Standard

17/11/2024

The ICS aims to provide a globally comparable risk-based measure of capital adequacy of internationally active insurance groups.

Securities / Derivatives

LME Clear Announces Reforms Tripling Member Capital Requirements

15/11/2024

LME Clear said the proposal would better align member capital requirements with those of peer CCPs and reassure market stakeholders of its markets resilience.

AML / KYC

New FinCEN Alert Offers Guidance on Detecting AI Deepfakes

15/11/2024

The alert explains typologies and provides red flag indicators to assist in identifying fraud schemes that leverage deepfake media created with GenAI tools.

PBOC Grants Credit Scoring Licence to Ant-Backed Firm

14/11/2024

This is the third personal credit reporting licence after one was granted to Baihang Credit in 2018 and Pudao Credit Rating in 2020.

ESG / Sustainability

More Progress Needed to Achieve Consistent Climate Disclosures

14/11/2024

Progress reports from the FSB and IFRS Foundation show that significant progress has been made, but more is needed.

China Announces New Tax Policies to Support Property Market

14/11/2024

Individuals purchasing residential property under 140 square meters or will pay deed tax at a rate of 1 percent.