SANCTIONS

    AML / KYC

    China Sanctions 28 Trump Officials as Biden Takes Office

    By Editors | 21/01/2021

    The 28 officials and their immediate family members will be barred from entering China, Hong Kong and Macao, and restricted from doing business with China.

    AML / KYC

    Financial Crime 2021: Digital ID, Due Diligence, Sanctions

    By Editors | 21/01/2021

    Last year’s financial crime landscape forced many FIs to rapidly adapt to evolving threats. In the year ahead, a continued focus on risk mitigation is prudent.

    AML / KYC

    UPDATED: Philippine Senate Approves Amendments to AML Law

    By Editors | 19/01/2021

    The approval comes ahead of an evaluation by the FATF, slated for February, as the Philippines seeks to avoid being gray-listed.

    AML / KYC

    US Sanctions Six More Chinese, Hong Kong Officials

    By Editors | 17/01/2021

    The latest designations are a response to the arrest of 53 pro-democracy politicians and activists this month. Hong Kong’s government called the move “insane, shameless and despicable”.

    Sanctions

    HKMA May Replace State Street as Manager of Tracker Fund

    By Editors | 13/01/2021

    State Street will no longer be able to buy shares in companies sanctioned by the US, including China Mobile and China Unicom.

    AML / KYC

    China Issues New Rules to Protect from Foreign Sanctions

    By Manesh Samtani | 11/01/2021

    Global businesses that comply with sanctions deemed illegal by MOFCOM can be sued for compensation in Chinese courts.

    Sanctions

    US Banks to Delist Hong Kong Listed Structured Products

    By Manesh Samtani | 11/01/2021

    The move is said to be a direct result of a prohibition on US persons from purchasing shares in companies identified to be linked to the Chinese military.

    AML / KYC

    White House Bans US Transactions With Chinese Payment Apps

    By Editors | 06/01/2021

    White House allies including Treasury Secretary Steve Mnuchin also reportedly pressured the NYSE to again reverse its decision on delisting Chinese telecom stocks.

    AML / KYC

    OFAC Extends Chinese Military Company Ban to Subsidiaries

    By Editors | 03/01/2021

    In a set of FAQs, OFAC has clarified that Executive Order 13959 also applies to subsidiaries, derivatives, ETFs, index funds and mutual funds.

    Fintech / Regtech

    US Regulators Call for Responsible Stablecoin Design, Operation

    By Editors | 31/12/2020

    Stablecoin participants and arrangements should register with FinCEN and comply with AML, sanctions, recordkeeping and reporting requirements.

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