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AML / KYC
Singapore Punishes Ex-BSI Banker Over 1MDB Failings
By Sanday Chongo Kabange | 11/10/2022
BSI Singapore’s former head of private banking contributed to the bank’s failure to file STRs for 1MDB-related transactions when there were reasonable grounds to do so.
Crypto / Digital Assets
OECD Releases Tax Transparency Framework for Crypto
By Manesh Samtani | 11/10/2022
Indirect investments in crypto assets via derivatives and investment vehicles, as well as CBDCs, will be covered by CRS, rather than CARF.
AML / KYC
US Targets Fuel Procurement Network in Latest DPRK Sanctions
By Editors | 11/10/2022
The sanctions are against two Singapore companies, a Marshall Islands entity, and two individuals for illicit ship-to-ship transfers to deliver fuel to North Korea.
Market Infrastructure
FSB Unveils Plans for Next Phase of Cross-Border Payments Work
By Editors | 11/10/2022
The prioritisation plan emphasises a need to strengthen external engagement and partnerships to take forward the roadmap for enhancing cross-border payments.
AML / KYC
US Says Hong Kong Risks Becoming Haven for Sanctioned Russians
By Editors | 11/10/2022
The warning came days after Hong Kong indicated it would not pursue action against a superyacht owned by a sanctioned Russian oligarch that docked in the city.
ESG / Sustainability
LSE’s VCM to Finance Climate Change Mitigation
By ESG Investor | 10/10/2022
The London Stock Exchange has announced the launch of the first VCM by a primary exchange with the publication of final admission and disclosure rules.
AML / KYC
HK Victims Have Lost HKD 2.6 billion to Scams This Year
By Editors | 10/10/2022
Online investment fraud accounted for HKD 540 million of all online scams, which is largely attributed to an increase in crypto-related scams.
Capital / Liquidity
European Commission May Scrap Stricter Foreign Bank Rules
By Editors | 10/10/2022
Proposed requirements that would automatically require foreign banks to set up a subsidiary if they reach a certain size may […]
Enforcement
SEBI Cancels Rating Agency Licence for the First Time
By Editors | 10/10/2022
Brickwork Ratings India failed to exercise proper skill, care and diligence while discharging its duties as a credit rating agency, SEBI said.
Market Infrastructure
US, EU Move to Adopt New Data Sharing Framework
By Editors | 10/10/2022
The legal basis for transatlantic data transfers has been uncertain since 2020, after the EU-US Privacy Shield was declared invalid under EU law.
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