The guidelines tighten the definition of beneficial ownership and require risk assessments before launching new products and services.
June 20, 2023All entities on the list have provided the HKMA an annual declaration on their compliance with a new code of conduct for bank-related trust businesses.
June 3, 2023REITs could be allowed under Stock Connect, structured in a corporate (rather than trust) form, and add a renminbi counter for trading.
May 17, 2023SEBI enquiring into the Hindenburg allegations as well as market activity for regulatory violations. DBS has exposures to Adani Group worth S$1.3bn.
February 14, 2023The beneficial ownership of ten offshore trusts owned by Russian oligarch Roman Abramovich was changed shortly before he was sanctioned in the EU and UK.
February 3, 2023New FinCEN alert lists potential red flags and typologies involving attempted sanctions evasion in the CRE sector by sanctioned Russians and their proxies.
January 30, 2023Trust companies will have to divide their businesses into specific categories and ensure those businesses stay within the boundaries of their classifications.
January 2, 2023Australia is vulnerable due to lack of reporting requirements for DNFBPs and poor transparency of companies, trusts, and beneficial ownership.
December 15, 2022The FATF is consulting on draft guidance on Recommendation 24 and draft proposals to amend Recommendation 25 and its Interpretive Note until 6 December 2022.
November 3, 2022Trust entities seeking to create certain types of unit investment trust funds for the first time will be required to secure BSP approval.
September 17, 2022