Enforcement

CFTC Publishes Report on Responsible AI in Markets

07/05/2024

The report offers five recommendations on how the CFTC should safeguard financial markets from AI-related risks.

ESG / Sustainability

HKMA Publishes Hong Kong Taxonomy for Sustainable Finance

06/05/2024

The Taxonomy encompasses 12 economic activities under four sectors. The HKMA said the second phase of the Taxonomy’s development “will commence soon”.

Sanctions

Russia Expected to Retaliate Against Asset Confiscation

06/05/2024

Confiscation of Russia’s frozen foreign reserves could result in foreign-owned private assets being seized.

AML / KYC

Australia: Scam Losses Fall for the First Time in Six Years

03/05/2024

In its latest report on annual scam activity, the ACCC highlighted government and industry initiatives that led to lower scam losses in 2023.

Big Picture

Risks in APAC Private Credit Sector are Limited: HKMA Research

03/05/2024

However, further monitoring is warranted as private credit funds are increasingly open-ended, using leverage, and loosening their underwriting standards.

AML / KYC

China Issues New Rules on Beneficial Ownership Registration

03/05/2024

The new regulations will come into effect on 1 November 2024. Existing in-scope entities will have until 1 November 2025 to register beneficial owner information.

Securities / Derivatives

Korea FSC Unveils Draft Guidelines for “Value-up” Programme

03/05/2024

The programme is designed to encourage listed companies to improve corporate governance, long term value creation, and shareholder returns.

AML / KYC

Australia Opens 2nd Consultation on ‘Tranche 2’ AML Reforms

02/05/2024

The proposed reforms will extend the AML/CTF regime to cover Tranche 2 entities and a broader range of digital currency-related services.

AML / KYC

Wolfsberg Group Responds to FATF Payment Transparency Consultation

01/05/2024

Operators of payment market infrastructures should be brought into the scope of R.16 and ISO 20022 terminology should be adopted.