International

Market Infrastructure

IIB Warns of Extraterritoriality of Treasury Clearing Proposal

By Editors | 31/07/2024

Under a proposed FICC rule, the SEC’s clearing mandate on US Treasury securities would apply to an entire foreign bank, rather than just its US-based branch.

Sanctions

OFAC Targets Iran Weapons Programmes With New Sanctions

By Editors | 31/07/2024

The sanctions cover two procurement networks that help Iran obtain components for weapons systems, including Hong Kong and China-based targets.

AML / KYC

Regulating GenAI: New Tools, Old Challenges

By Bradley Maclean | 30/07/2024

Striking the right balance between automation and human expertise is vital to ensure the effective use of GenAI technology.

Enforcement

UK Court Rules in Mozambique’s Favour in ‘Tuna Bonds’ Case

By Editors | 30/07/2024

The court awarded Mozambique around $825mn, along with an indemnity for over $1bn in debt owed to lenders and bondholders.

Securities / Derivatives

CFTC Expands Access to Foreign Futures for US Investors

By Editors | 30/07/2024

Commissioner Caroline Pham says US market participants will have more choice in brokers and broker arrangements to trade foreign futures.

AML / KYC

China Issues Legal Guidelines for Combatting Asia’s ‘Fraud Parks’

By Manesh Samtani | 30/07/2024

The guidelines identify four key areas where punishment shall be imposed to combat large-scale industrial fraud parks in Southeast Asia.

AML / KYC

Interpol Issues Red Notices for Hong Kong Crypto Promoters

By Sanday Chongo Kabange | 30/07/2024

The HKPF had asked Interpol to help locate the crypto promoters over their suspected role in a cryptocurrency deception case.

Enforcement

India, FBI Arrest 43 in Joint Operation Against Cybercrime Network

By Ajoy K Das | 30/07/2024

The cyber-enabled financial crime network operated in multiple countries and is estimated to have defrauded people of over $20mn.

AML / KYC

A Whole New World for the Financial Action Task Force?

By Fatima Alsancak | 29/07/2024

With the next round of country assessments starting, the new FATF President has a lot of work to do over the next two years.