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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.
Securities / Derivatives
FTSE Russell to Remove More Chinese Companies from Indexes
By Editors | 06/01/2021
The three companies being removed are China United Network Communications, Semiconductor Manufacturing International Corporation and Nanjing Panda Electronics.
Securities / Derivatives
UPDATED – NYSE Commences, Then Halts Delisting of Chinese Companies
By Editors | 05/01/2021
NYSE will no longer delist the ADRs of China Telecom, China Mobile and China Unicom “in light of further consultation with relevant regulatory authorities”.
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.
AML / KYC
Federal Reserve Orders Credit Suisse to Enhance AML Controls
By Editors | 31/12/2020
Credit Suisse is required to improve its risk assessment, customer due diligence, suspicious activity monitoring and reporting processes.
Securities / Derivatives
HKFE Announces Launch Date for Hang Seng TECH Index Options
By Editors | 31/12/2020
The Hang Seng TECH Index Futures, introduced in November, have now been certified by the CFTC to be offered and sold to persons in the US.
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.
Securities / Derivatives
NYSE Gets SEC Green Lights to Allow Direct Listings
By Editors | 29/12/2020
Companies will be able to directly sell shares in an auction without a traditional underwriter, enabling investors to participate in new listings more readily.
AML / KYC
UPDATED – FinCEN Proposes Reporting, Recordkeeping Rules for Crypto
By Editors | 23/12/2020
Under the proposed rule, FIs will have to keep records of customers’ crypto transactions and counterparties, and whether they are using unhosted wallets.
Crypto / Digital Assets
UPDATED: US SEC Files Lawsuit Against Ripple, Top Execs
By Editors | 22/12/2020
The lawsuit will allege that Ripple, its CEO and its Co-founder sold unlicensed securities that should be registered with the SEC.
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