Financial Crime

Anti-Bribery & Corruption

Former China Citic Bank President Gets Suspended Death Sentence

By Editors | 13/11/2023

A former China Merchants Bank president also pleaded guilty to bribery charges last week, and a new probe was launched into a former ICBC vice president.

Market Abuse

CSRC Probes Singapore Unit of Chinese PE Firm Hillhouse Capital

By Editors | 13/11/2023

The CSRC is investigating whether HHLR Management violated share transfer rules by disposing of shares in LONGi Green Energy Technology.

Conduct, Culture & Accountability

ASIC Fines HESTA Super Fund for “Misleading” Advertising

By Editors | 13/11/2023

HESTA performance figures used in Facebook and Instagram ads and in a webinar did not specify the period the figures related to.

PEPs & Sanctions

Cambodia Receives Rating Upgrade for FATF Recommendation 7

By Editors | 13/11/2023

Cambodia’s rating was upgraded due to a law that implements targeted financial sanctions for WMD proliferation and financing.

PEPs & Sanctions

EU Parliament Calls for Stronger Russia Sanctions Enforcement

By Editors | 13/11/2023

Resolution urges EU to strengthen enforcement of existing sanctions while adopting new sanctions on Russian petroleum and diamonds, including refined products from India and other markets.

PEPs & Sanctions

Canada Sanctions News Outlets Linked to Russian Disinformation

By Editors | 12/11/2023

The nine individuals and six entities are accused of spreading information justifying Russian aggression against Ukraine, Canada’s foreign ministry said.

Anti-Money Laundering

US Fed Probing Morgan Stanley AML Controls – Report

By Editors | 12/11/2023

The Fed is reported to be assessing whether Morgan Stanley has sufficient controls in place to prevent wealthy foreign customers from laundering money.

Cryptocurrency

Countries to Start Sharing Tax Information on Crypto by 2027

By Editors | 12/11/2023

The 48 countries pledge to implement the CARF at the local level in time for automatic exchanges of tax relevant-information on crypto-assets to commence by 2027.

Credit Risk

BIS Paper Addresses Supervisory Challenges of LEX Standard

By Manesh Samtani | 10/11/2023

The paper says automated tools can make supervisory oversight of the LEX standard more efficient, and additional international guidance could help harmonise practices.