China Refines Ratings Framework for Consumer Finance Companies

24/12/2024

Two rating dimensions have been added to the framework and the NFRA has optimised the classification levels.

Enforcement

US SEC Fines Deutsche Bank Securities for Late SAR Filings

24/12/2024

The SEC said the firm took months or years to conduct or complete investigations prompted by law enforcement or regulatory requests.

Sanctions

EU Already Preparing Next Package of Russia Sanctions

24/12/2024

The EU intends to adopt the 16th package in February to mark the third anniversary of Russia’s invasion of Ukraine.

Sanctions

Calls Grow for Sanctions Against Syria to be Lifted

24/12/2024

The UN special envoy to Syria, as well as Turkiye and Qatar, have called for international sanctions on Syria to be quickly lifted.

AML / KYC

Australia Reviews Tax Regulator Secrecy Exceptions

24/12/2024

Feedback is sought on allowing the ATO or TPB to share protected tax information for purposes such as fraud prevention.

Securities / Derivatives

Hong Kong and UAE to Connect Debt Capital Markets

24/12/2024

HKMA and CBUAE aim to “allow seamless and cost-effective cross-border debt securities issuance, trading, investment, settlement as well as collateral management.”

Enforcement

US Regulator Files Lawsuit Targeting Zelle and Three Major Banks

24/12/2024

The CFPB says JPMorgan, BofA and Wells Fargo failed to implement anti-fraud safeguards on Zelle, resulting in $870mn in losses to customers over 7 years.

Enforcement

FMA Says Westpac NZ Admitted to Overcharging 24,000 Customers

24/12/2024

The bank self-reported the issue, fully cooperated with the FMA’s investigation, and provided remediation to impacted customers.

Securities / Derivatives

Bursa Malaysia Amends Listing Rules to Integrate ISSB Standards

24/12/2024

Large issuers must use the ISSB Standards for their sustainability disclosures starting with the 1 January 2025 annual reporting period.