Sanctions

Hong Kong Has Become a Money Laundering Hub, US Lawmakers Say

27/11/2024

US lawmakers are calling for a re-evaluation of the treatment of Hong Kong banks, saying the city has become a hub for money laundering and sanctions evasion.

Sanctions

UK Targets Russian Shadow Fleet With New Sanctions Package

27/11/2024

The UK sanctioned 30 ships in Russia’s shadow fleet and 2 insurance companies for enabling them to generate oil revenues.

Securities / Derivatives

Korea Releases Revision Bills on Measures to Prevent Naked Short-selling

27/11/2024

The revision bills specify details regarding the repayment period for borrowed stocks, internal control standards, and securities firm obligations, among other measures.

Sanctions

Japan Preparing to Ramp Up Sanctions on North Korea, Russia

26/11/2024

Officials are said to be particularly concerned about North Korean troop deployments to Russia and the implications for peace and security in the region.

Securities / Derivatives

SEBI Proposes to Diversify Ownership of Clearing Corporations

26/11/2024

SEBI proposes two options to diversify ownership of clearing corporations to allow them to operate as public utilities free from commercial, profit-making considerations.

Sanctions

HSBC Stops Processing All Payments Involving Russia, Belarus

26/11/2024

Payments involving Russia or Belarus may be held for further review and rejected. Customers are advised to “make alternative arrangements” for such transactions.

Market Infrastructure

Hong Kong Completes Transition to Multiple CRA Operating Model

26/11/2024

The migration of consumer credit reference services to “Credit Data Smart” was completed on 24 November. HKMA welcomed the “milestone”.

Crypto / Digital Assets

BSP Proposes to Enhance Reporting Requirements for VASPs

26/11/2024

VASPs must submit 13 reports at specified intervals to ensure thorough oversight. A new reporting portal will be implemented by January.

Enforcement

US Authorities Charge Former Co-CIO of WAMCO with Fraud

26/11/2024

Ken Leech disproportionally allocate winning trades to favoured portfolios and loss-making trades to disfavoured portfolios.