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United States
AML / KYC
US Authorities to Target Those Who Facilitate Sanctions Evasion
By Editors | 06/03/2023
China (incl. HK and Macau), Armenia, Turkey and Uzbekistan are named as “transshipment points commonly used to illegally redirect restricted items to Russia or Belarus”.
Sanctions
US Commerce Department Adds 3 Dozen Entities to Trade Blacklist
By Editors | 06/03/2023
Of the 37 companies added to the list, 28 are Chinese entities including those involved in advanced technologies and genetic data collection.
Enforcement
OFAC Penalises Indian Tobacco-maker for Sanctions Violations
By Editors | 06/03/2023
Godfrey Phillips India exported tobacco to North Korea through a Thai intermediary, saying they were going to China. Hong Kong intermediaries were used to make the payments.
Market Infrastructure
US Unveils New Cybersecurity Strategy Focusing on Ransomware Attacks
By Mark Johnston | 05/03/2023
The strategy involves leveraging international cooperation, investigating crimes, bolstering infrastructure resilience, and addressing virtual currency abuse.
AML / KYC
US Authorities Fine Ericsson $200m for Breaching 2019 DPA
By Editors | 04/03/2023
Ericsson breached a 2019 deferred prosecution agreement intended to resolve a probe into 17 years of alleged corruption in Djibouti, China, Vietnam, Indonesia, and Kuwait.
ESG / Sustainability
Japan Sets Timeline for Domestic Implementation of ISSB Standards
By Editors | 03/03/2023
Japan will issue draft sustainability disclosure standards based on the ISSB standards by 31 March 2024, and final standards by 31 March 2025.
Market Infrastructure
AFME Announces Establishment of T+1 Industry Taskforce
By Editors | 02/03/2023
The task force will assess whether Europe should follow the US and other jurisdictions in moving to shorter settlement cycles.
ESG / Sustainability
US Senate Votes to Overturn ESG Investing Rule for Retirement Funds
By Mark Johnston | 02/03/2023
The US Senate voted to repeal a Labour Department rule that allowed managers of retirement funds to consider ESG factors in their investments.
Crypto / Digital Assets
Third FTX Executive Pleads Guilty to US Fraud Charges
By Manesh Samtani | 01/03/2023
Nishad Singh created the software code that allowed FTX customer funds to be diverted to the Alameda Research hedge fund.
Crypto / Digital Assets
Class Action Alleges Banks, VC Firms Were Complicit in FTX Fraud
By Manesh Samtani | 01/03/2023
The lawsuit seeks damages from four banks, one banking executive, ten investment firms, a law firm, and two accounting firms.
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