United States

Securities / Derivatives

Japan: New Foreign Investment Rule to Impact Up to 500 Listed Firms

By Editors | 24/02/2020

Proposed ministry orders currently being finalised will reportedly exempt a wide range of foreign financial institutions and hedge funds from the reporting requirement.

AML / KYC

Huawei Alleges HSBC Continued Evading Sanctions After 2012 DPA

By Editors | 20/02/2020

HSBC continued to evade Iran sanctions after its 2012 deferred prosecution agreement with the US Department of Justice, Huawei lawyers say in a letter to a New York District Court.

Enforcement

Korea to Strengthen Regulatory Framework for Hedge Funds

By Manesh Samtani | 15/02/2020

The FSC will cap illiquid investments at 50% for open-ended funds, require them to conduct regular stress tests, raise transparency of complex fund structures, and enhance supervisory monitoring.

AML / KYC

OFAC Quietly Blocks Payments with Indirect Links to North Korea – Report

By Editors | 14/02/2020

In private communications with banks, OFAC has been blocking usually-permissible payments with any overseas account that officials believe separately handled funds for North Korea.

Enforcement

US Charges 4 Chinese Military Officers for Equifax Hack

By Editors | 12/02/2020

The four Chinese nationals are charged for breaking into Equifax’s computer systems to steal US citizens’ personal data and sensitive trade secrets.

Fintech / Regtech

Federal Reserve Explores Feasibility of US Dollar CBDC

By Editors | 11/02/2020

The Fed is exploring policy and design issues, legal considerations, and financial stability and resilience implications, governor Lael Brainard says.

AML / KYC

Liar’s Poker – The 1MDB Version

By Peter Guy | 11/02/2020

1MDB sorely tested principles-based regulation and compliance at Goldman Sachs. But, the bank was likely set up as a victim from the very beginning, says Peter Guy.

AML / KYC

US Treasury Issues 2020 National Strategy for Combatting Illicit Finance

By Editors | 10/02/2020

The document highlights increased transparency, an improved supervisory framework for FIs, and enhanced operational capabilities as three strategic priorities for the US AML/CFT regime.

Market Infrastructure

US, Singapore Jointly Declare Opposition to Data Localisation

By Editors | 06/02/2020

The US and Singapore support allowing financial service suppliers to transfer data across borders and oppose generally applicable data localisation requirements.