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BOT Directs Banks to Halt Pressure Sales of Insurance
By Pongnut Thanaboonchai | 22/11/2021
The BOT has instructed banks to control the quality of their insurance sale practices, saying it is ready to implement “more intense” regulatory measures.
AML / KYC
US Extradites Ex-BOC Banker to China Over Corruption Charges
By Darien Choong | 22/11/2021
The former BOC managers stole the bank’s money and laundered it through Canada and the US, in a case that dates back 20 years.
Market Infrastructure
HKEX Finalises Changes to Listing Regime for Overseas Issuers
By Manesh Samtani | 21/11/2021
From 1 January 2022, overseas issuers without WVR structures will have lower minimum market cap requirements to secondary list in Hong Kong.
Market Infrastructure
S&P-IHS Deal Wins Regulatory Approval in the US
By Editors | 15/11/2021
To win approval for the $44bn combination, the companies agreed to sell three of IHS Markit’s price reporting agency businesses.
AML / KYC
US Treasury Sanctions Cambodian Officials for Corruption
By Ranamita Chakraborty | 13/11/2021
Businesses in Cambodia are warned to “be mindful of interactions with entities in corrupt business practices, criminal activities and human rights abuses”.
AML / KYC
APG Re-rates Sri Lanka on One FATF Recommendation
By Editors | 11/11/2021
Sri Lanka extended its foreign exchange declaration requirements to include the full range of bearer negotiable instruments, in line with Recommendation 32.
Big Picture
Fed Warns of Spillover Risk from China Property Markets
By Editors | 09/11/2021
Financial stresses in China could strain global financial markets and affect the US, the Federal Reserve says in its financial stability report.
Enforcement
US Treasury Announces New Ransomware-related Sanctions
By Manesh Samtani | 09/11/2021
The US Treasury Department, OFAC, State Department, DOJ, and FinCEN have taken coordinated action to counter the ransomware threat.
Securities / Derivatives
SEC Approves PCAOB Framework for HFCAA Determinations
By Editors | 07/11/2021
The framework sets out how the PCAOB will determine that it is unable to inspect the foreign audit firm of a US listed company and force a delisting.
Philippines Streamlines Bank Merger Application Processes
By Editors | 07/11/2021
A five agency agreement will see documentary requirements cut in half and total processing times reduced from 160 to 55 business days.
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