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United States
Sanctions
OFAC Sanctions Hong Kong, UAE Firms for Russian Oil Trades
By Editors | 20/12/2023
US aims to strengthen G7 oil price cap sanctions with asset freeze on Russian state-owned ship manager and Hong Kong and UAE companies found trading Russian oil above the cap.
Sanctions
US Sanctions Companies Across Asia for Procuring Parts for Iranian UAVs
By Editors | 20/12/2023
OFAC sanctions targets in Hong Kong, Indonesia, and Malaysia as DOJ indicts Iranian and Chinese nationals.
Securities / Derivatives
CFTC Approves Rule to Allow UPI Use in Swaps Reporting
By Sanday Chongo Kabange | 19/12/2023
The use of the UPI in the reporting of OTC derivatives in the US will start on 29 January 2024.
ESG / Sustainability
BSP Approves New Incentives to Promote Sustainable Finance
By Sanday Chongo Kabange | 19/12/2023
The measures include extra lending capability and a reduced reserve requirement rate on sustainable bonds issued by banks.
Crypto / Digital Assets
FASB Issues Standards to Implement ‘Fair Value’ Accounting for Crypto
By Mark Johnston | 18/12/2023
Fair value accounting allows firms to provide a clearer view of their financial position and the actual economic value of their crypto holdings.
Enforcement
Ex-FBI Agent Jailed for Helping Sanctioned Russian Oligarch
By Editors | 18/12/2023
Former FBI agent Charles McGonigal conspired to violate US sanctions and commit money laundering to help sanctioned Russian oligarch Oleg Deripaska.
Crypto / Digital Assets
US SEC Denies Coinbase Rule-making Petition
By Editors | 17/12/2023
SEC Chair Gary Gensler said the existing securities regime already appropriately governs crypto asset securities.
AML / KYC
India, US Pledge to Cooperate on Global Illicit Finance Risks
By Editors | 17/12/2023
Key topics of the joint India-US AML/CFT Dialogue were virtual assets, sanctions implementation, and beneficial ownership transparency.
Sanctions
UK Inaugurates New Iran Sanctions Regime with Joint UK-US Action
By Editors | 16/12/2023
US and UK governments announce joint sanctions against eight individuals as UK’s new Iran sanctions regulations come into force.
AML / KYC
US Congress Passes Foreign Extortion Prevention Act
By Editors | 15/12/2023
The Act prohibits foreign government officials from soliciting or receiving bribes from any person or company under US jurisdiction.
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