INTERNATIONAL

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

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.

ESG / Sustainability

Adapt or Burn: Investing in Climate Adaptation

By Mary Leung | 28/07/2024

Mary Leung, Senior Advisor of Research and Advocacy for Asia-Pacific at the CFA Institute, makes the case for increased investment in climate adaptation.

Securities / Derivatives

FMSB Publishes Spotlight Review on Pre-Hedging Practices

By Editors | 28/07/2024

The Spotlight Review offers case studies to provide practical guidance and highlight the nuanced application of pre-hedging principles across different context.

Market Infrastructure

France Advocates for Coordinated Approach to T+1 Transition

By Ranamita Chakraborty | 28/07/2024

AMF and Banque de France call for a “two-phased approach” to the transition, emphasising close cooperation with the UK and Switzerland.

Sanctions

EU Disburses First Funds Generated from Frozen Russian Assets

By Editors | 27/07/2024

The €1.5bn instalment will be used to support Ukraine, in line with an EU-wide agreement on how profits generated from frozen Russian central bank assets can be used.

Enforcement

OFAC Fines State Street for Sanctions Violations by Subsidiary

By Editors | 27/07/2024

Charles River Systems, acquired by State Street in 2018, redated and reissued invoices for Sberbank and VTB Bank subsidiaries to circumvent sanctions restrictions.