AML / KYC

MAS Issues New AML/CFT Notices for Financial Institutions

02/03/2022

The Notices cover activities involving precious stones and metals, services and transactions involving digital payment tokens, and risk assessments on shell companies.

AML / KYC

UK Fast-Tracks Property Ownership Transparency Bill

01/03/2022

The Economic Crime (Transparency and Enforcement) Bill first promised in 2016 has been introduced in Parliament and will be fast-tracked through the legislature.

AML / KYC

Singapore, Korea, Switzerland Announce Sanctions Against Russia

01/03/2022

Singapore will block certain Russian banks and financial transactions connected to Russia. Major Singapore banks are already restricting trade financing for Russian commodities.

AML / KYC

The SFC Approach to Virtual Assets Prioritises Investor Protection

28/02/2022

Since 2018, the steps taken by the SFC to regulate the virtual asset space have prioritised investor protection, first and foremost.

AML / KYC

Western Leaders Pledge to Remove Russian Banks from SWIFT

28/02/2022

Western leaders have committed to removing “selected Russian banks” from the SWIFT financial messaging system to harm their ability to operate globally.

AML / KYC

EC Adopts Proposal on Corporate Sustainability Due Diligence

28/02/2022

The proposal requires companies, including certain non-EU companies, to address negative human rights and environmental impacts in their supply chains.

AML / KYC

Russia Facing Comprehensive Sanctions Over Ukraine Invasion

25/02/2022

The US is targeting all ten of Russia’s largest financial institutions. Russian access to most major markets has been restricted.

Market Infrastructure

China Continues Work to Defend Against Property Sector Woes

24/02/2022

Lenders are being asked to accelerate lending to homebuyers and developers. Bad debt managers are being asked to buy up property assets and help restructure smaller lenders.

Market Infrastructure

HK Budget Includes More Borrower Relief, Capital Market Reforms

23/02/2022

Finance Secretary Paul Chan announced measures to further reform Hong Kong’s listing rules, promote the bond market, and introduce yuan share trading in the city.