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United States
Sanctions
OFAC Issues Initial Price Cap Guidance for Russian Petroleum Products
By Editors | 05/01/2023
The new price cap on petroleum products is due to take effect on 5 February 2023, alongside an EU ban on seaborne imports of refined products originating from Russia.
Crypto / Digital Assets
US Banking Regulators Issue Statement Warning of Crypto Risks
By Editors | 04/01/2023
“It is important that risks related to the crypto-asset sector that cannot be mitigated or controlled do not migrate to the banking system,” the statement says.
Crypto / Digital Assets
US Court Sets October Date for Bankman-Fried Trial
By Manesh Samtani | 04/01/2023
Bankman-Fried pleaded not guilty to all eight charges against him. The court set a 2 October 2023 date for trial, which is expected to last about four weeks.
Enforcement
US FTC Orders Mastercard to Stop Blocking Competing Networks
By Editors | 03/01/2023
The FTC says Mastercard used its control over its “tokenisation” process to block the use of competing payment card networks.
ESG / Sustainability
Thailand Consults on ‘Pilot Version’ of Sustainable Finance Taxonomy
By Sanday Chongo Kabange | 02/01/2023
Like the ASEAN Taxonomy, the Thailand Taxonomy uses a traffic light system. The objectives of the taxonomy largely draw from the EU taxonomy.
Crypto / Digital Assets
Boston Fed, MIT Conclude CBDC Research Project
By Editors | 02/01/2023
Project Hamilton focused on better understanding the capabilities and limitations of different technologies that might be used to manage and transfer CBDCs.
AML / KYC
SEC Philippines Increases Penalties for UBO Non Disclosure
By Editors | 30/12/2022
Directors, trustees, and officers can also be fined personally and barred for five years for failure to ensure compliance with beneficial ownership disclosure requirements.
Enforcement
Meta to Pay $725m to Settle Cambridge Analytica Claims
By Editors | 30/12/2022
Facebook allowed Cambridge Analytica to access data of 87 million users. The proposed settlement is the largest ever in a US data privacy class action.
Market Infrastructure
SEBI Proposes Regulatory Framework for Index Providers
By Manesh Samtani | 29/12/2022
Index providers could be subject to SEBI’s framework even if they do not know their indices are being used in India, and even if they are not regulated in their home market.
ESG / Sustainability
SEC Thailand to Allow SME to Issue Sustainability Bonds
By Editors | 27/12/2022
Rule changes will allow SMEs and startups to offer sustainability bonds via crowdfunding and private placement channels.
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