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Enforcement
Chinese Regulators Complete Luckin Probe, Confirm Fraud
By Editors | 04/08/2020
The Ministry of Finance and State Administration for Market Regulation both intend to impose administrative penalties against Luckin Coffee for fraud.
AML / KYC
OFAC Sanctions Chinese Entity Over Human Rights Abuses
By Editors | 04/08/2020
The XPCC is considered by OFAC to be a paramilitary organisation with large commercial operations that that are likely to be impacted by US sanctions.
Securities / Derivatives
SGX Posts Strong Growth, Signals New Acquisitions, Derivatives
By Manesh Samtani | 02/08/2020
SGX is looking to develop into a hub for trading bonds, foreign exchange, commodities and derivatives, as it pivots away from being a pure equity exchange.
AML / KYC
China Should Reduce SWIFT Use in Case of US Sanctions – Report
By Editors | 30/07/2020
China should prepare for potential US sanctions by increasing the use of CIPS for cross-border transactions, and by developing legislation similar to the EU’s blocking statute.
Crypto / Digital Assets
Philippines Launches DLT-based Distribution of Retail Treasury Bonds
By Sanday Chongo Kabange | 29/07/2020
The launch of ‘Bonds.PH’ paves the way for the unbanked to affordably and easily invest in retail treasury bonds, said National Treasurer Rosalia V. De Leon.
Securities / Derivatives
Why Do Electronic Traders Cancel Orders?
By Jamil Nazarali | 28/07/2020
Jamil Nazarali at Citadel Securities explains what ever-increasing speeds for issuing and canceling orders tell us about today’s market structure.
AML / KYC
US Hedge Funds Being Used for Money Laundering: FBI
By Manesh Samtani | 27/07/2020
A leaked FBI bulletin says US hedge funds and private equity firms are being used to facilitate money laundering, organised crime, and sanctions evasion.
Capital / Liquidity
CFTC Adopts New Swaps Rules Limiting Extraterritorial Oversight
By Editors | 27/07/2020
Chairman Heath Tarbert said it is unnecessary for the CFTC to be “the world’s policeman” for all swaps, given that most G20 jurisdictions have adopted similar swaps regulations.
AML / KYC
UPDATED – Malaysia, Goldman Agree to Settle 1MDB Charges
By Editors | 24/07/2020
Malaysia will drop all criminal charges against Goldman Sachs in exchange for a $2.5bn cash payment and help recovering an additional $1.4bn from 1MDB-related assets seized globally.
AML / KYC
Malaysia Resumes Talks with Goldman on 1MDB Settlement
By Editors | 22/07/2020
A six-member team from Goldman Sachs has entered Malaysia to resume negotiations on a 1MDB settlement. A deal is believed to be within reach.
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