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AML / KYC
US Agencies Warn of North Korean ATM Cash-out Threat
By Manesh Samtani | 30/08/2020
The hacking team uses various techniques to gain access to banks’ SWIFT terminals to enable wire fraud or their payment switch application servers to enable ATM cash-outs.
Securities / Derivatives
CSRC Offers to Allow PCAOB to Inspect State-owned Entities – Report
By Editors | 27/08/2020
The CSRC proposes to allow the PCAOB to choose any Chinese state-owned enterprises for trial inspections, though information related to national security would be redacted.
Securities / Derivatives
Philippines Issues Rules on New Investment Vehicle for Corporate Debt
By Editors | 26/08/2020
Corporate Debt Vehicles can issue securities to invest in bonds, notes or commercial papers issued by large corporations and medium-sized enterprises.
AML / KYC
US Sanctions Chinese Individuals, Entities Over South China Sea
By Editors | 26/08/2020
The US accuses one Chinese state-owned enterprise of engaging in “corruption, predatory financing, environmental destruction, and other abuses across the world.”
Securities / Derivatives
Thailand SEC to Allow Repo, Reverse Repo Trades by Retail Investors
By Editors | 25/08/2020
Allowing repo and reverse repo trades in listed securities and unit trusts with all investor types will provide them additional liquidity management tools, the SEC said.
AML / KYC
Thailand SEC to Simplify KYC Rules for Low Risk Investment Products
By Editors | 22/08/2020
The SEC proposes to simplify KYC requirements for low-risk investment products such as local money market funds with daily redemption, subject to a THB 50,000 investment limit per account.
Enforcement
Scotiabank Resolves DOJ, CFTC Spoofing Charges for $127.4m
By Editors | 20/08/2020
Four Scotiabank traders based in New York, London and Hong Kong placed thousands of orders in precious metals futures between 2008 and 2016 to manipulate prices.
Securities / Derivatives
HKEX Adds Two More Taiwan Futures Contracts to MSCI Suite
By Manesh Samtani | 20/08/2020
HKEX is seeking CFTC certification for the new contracts. The move intensifies competition with SGX, which already has a CFTC-certified futures contract for Taiwan.
AML / KYC
APAC Regulators Issue Nearly $4bn in AML Fines in H1 2020
By Editors | 19/08/2020
Fraudulent activity brought on by Covid-19 related initiatives may result in enforcement actions later in the year and into 2021, says Fenergo’s Rachel Woolley.
AML / KYC
UN Security Council Rejects Extension of Iran Arms Embargo
By Editors | 18/08/2020
The UN Security Council has rejected a US resolution to extend an international arms embargo on Iran due to expire on 18 October.
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