Enforcement

Chinese Premier Signs Decree on Preventing Illegal Fundraising

15/02/2021

New regulations set to take effect in May will enhance monitoring and penalties for illegal fundraising activities, with an emphasis on prevention and early detection.

AML / KYC

UK Issues Draft Rules to Promote Trust in Digital Identity

15/02/2021

New draft rules are aimed at deepening trust and confidence in digital identities through the adoption of common standards to safeguard personal data and privacy.

AML / KYC

GLEIF to Implement New Policies, File Formats in Global LEI System

15/02/2021

Users must plan to implement the updated file formats to ensure uninterrupted access to LEI data beyond 31 March 2022, GLEIF said.

Market Infrastructure

CPA Australia Calls for Reforms to ASIC Funding Model

15/02/2021

The accounting body has asked the government to consider the adoption of a partial cost-recovery model for ASIC to ease the burden on the financial industry.

AML / KYC

AFP Charges Australian Man in Money Mule Recruitment Case

15/02/2021

The man is accused of recruiting individuals to unwittingly serve as money mules to launder the proceeds of crime in return for a commission.

Enforcement

CBIRC Punishes Staff for Violating Personal Investment Rules

15/02/2021

The regulator found that 429 individuals engaged in prohibited financial activity involving CNY 160 million and has taken action in 106 cases so far.

AML / KYC

RBI Limits Investment in NBFCs from FATF Non-compliant Jurisdictions

15/02/2021

Investors from black-listed or grey-listed FATF jurisdictions will not be allowed to acquire ‘significant influence’ in NBFCs, the RBI said.

Enforcement

ASIC Outlines Approach to Regulating Superannuation Trustees

14/02/2021

ASIC’s Jane Eccleston says trustees of non-public offer funds need to apply for an AFS licence or vary their existing licences by 30 April 2021.

AML / KYC

Australian Court Jails Car Wash Owner for Money Laundering

14/02/2021

The man used express cash deposit facilities at Perth bank branches to help launder more than A$5.6mn for an alleged criminal syndicate.