AML / KYC

US Designates Russian Tech Firms for Enabling Sanctions Evasion

03/04/2022

US sanctions 21 entities and 13 individuals. EU to propose new measures this week. Australia applies 35% export tariff.

Market Infrastructure

New Data Protection Requirements Enter into Force in Japan

03/04/2022

Japan’s revised law on the protection of personal data raises penalties for non-compliance, tightens breach reporting requirements, and gives data subjects additional rights.

AML / KYC

Australia a ‘Laggard on the World Stage’, Senate AML Inquiry Finds

31/03/2022

Senate committee warns that the government’s failure to bring lawyers, accountants and real estate professionals into the AML/CFT regime is harming Australians.

Fintech / Regtech

BIS, MAS Launch Prototype Supervisory Analytics Platform

31/03/2022

Project Ellipse can provide regulators with early warning indicators, analytics and prudential metrics to assist them in risk detection and banking supervision.

ESG / Sustainability

Hong Kong to Develop VCM, Unify GBA Carbon Market

31/03/2022

Hong Kong’s VCM will target local, Mainland and overseas buyers of carbon credits. Authorities will also work to establish a unified carbon market for the GBA.

AML / KYC

Japan to Tighten Russia Sanctions, G7 Rejects Ruble Option

30/03/2022

Japan to impose new requirements on crypto exchanges. G7 rejects Russian demand for gas payments in rubles. US to help EU reduce dependence on Russian energy.

Fintech / Regtech

Huobi Seeks to Launch Retail Crypto ETF in HK

30/03/2022

Huobi Tech has structured the ETF so that it won’t be restricted to just professional investors, possibly through the use of crypto futures listed on overseas exchanges.

Sanctions

New Manager Announced for Hong Kong Tracker Fund

29/03/2022

Hang Seng Investment Management will become TraHK’s new manager in Q3 2022, replacing State Street, which has managed the ETF for 22 years.

AML / KYC

Wolfsberg Group Issues Guidance on Managing Customer Risk

29/03/2022

FIs should consider building “more holistic” customer profiles, using additional identity attributes and ensuring they are alerted to changes in data points.