Emerging Prudential Risks

FSOC Revamps Oversight Framework for Non-Bank Sector

06/11/2023

The changes will make it easier for the FSOC to designate a non-bank as systemically importance, and speed up its ability to respond to risks.

Reporting & Disclosures

HKEX Postpones Enhancements to Climate Disclosure Framework

06/11/2023

HKEX said it intends for its requirements to take into account the ISSB adoption guide, which won’t be finalised until year-end.

PEPs & Sanctions

US Commerce Department Fines Manufacturer for Aiding Israeli Boycott

05/11/2023

The US-based manufacturer admitted to violating the US Antiboycott Regulations by certifying that shipments to the Middle East did not contain Israeli-origin goods.

PEPs & Sanctions

US Sanctions Russian National for Laundering Funds for Wealthy Clients

05/11/2023

Ekaterina Zhdanova allegedly helped wealthy clients evade sanctions and move money internationally using crypto and other channels.

Credit Risk

Korea Proposes Measures to Help Financial Firms Expand Overseas

05/11/2023

Financial companies within a holding group will be allowed to extend an additional credit to overseas subsidiaries.

PEPs & Sanctions

US Congress Proposes New Sanctions on HK Judiciary

05/11/2023

The proposed legislation would direct the US President to consider sanctioning 49 individuals involved in prosecuting National Security Law cases.

Cryptocurrency

FCA Finalises Guidance on Cryptoasset Financial Promotions

05/11/2023

Crypto promotions should apply the Consumer Duty; finfluencers should disclose commercial relationships; regulated status should not be used in a promotional way.

Anti-Money Laundering

Japanese Regional Banks Form Partnership on AML/CFT

05/11/2023

Three regional banks will use the same centralised service platform to perform AML/CFT operations.

Anti-Bribery & Corruption

China Bars CCP Officials from Investing in PE Funds

05/11/2023

The CCDI said it found Party officials who abused their powers to support firms they’d invested in through PE funds.