PEPs & Sanctions

UK Ban on Providing Trust Services to Russia Takes Effect

22/12/2022

Professional services ban expanded from accounting, consulting and PR services to include trust, advertising, auditing, engineering and IT consultancy and design services.

Structural Regulation

ESMA Issues Guidelines for Operators of DLT Market Infrastructure

22/12/2022

The guidelines include templates firms can use to apply for permission to operate DLT market infrastructure under the EU’s DLT Pilot Regulation.

Payments & Settlements

Citigroup Litigation in Revlon Dispute Comes to an End

22/12/2022

Citigroup reached an agreement with ten remaining Revlon lenders for them to repay the bank USD 504 million for mistakenly sent wire transfers.

Fraud, Scams & Cybercrime

Bangladesh Banks Under Scrutiny for Alleged Loan Scams

22/12/2022

Bangladesh Bank directed five banks to submit daily reports on loan disbursements. Two of the banks have observers appointed to monitor operations.

Trading & Investment

Vietnam Proposes Measures to Boost Corporate Bond Market

22/12/2022

The Ministry of Finance has proposed to defer a professional-investor-only requirement, and delay a requirement for large issuers to have a credit rating.

Anti-Bribery & Corruption

US, Brazil Settle Honeywell Bribery Charges for Over $200m

22/12/2022

Manufacturing conglomerate Honeywell will pay $120mn to Brazilian authorities, $39.4mn to the DOJ, and $42.3mn to the SEC.

Capital Adequacy

APRA to Set CCyB Default Rate at 1pc from 1 Jan 2023

22/12/2022

The CCyB default rate in Australia has been set at zero percent of risk-weighted assets since it was introduced in 2016.

Alternative Markets

SEBI Considering Allowing Listings by ‘Micro REITs’

22/12/2022

Micro REITs will be allowed to hold just a single asset or a diversified portfolio, to provide easier access to retail investors.

Emerging Prudential Risks

HKMA Intends to Implement BCBS Cryptoasset Standards

22/12/2022

The HKMA plans to implement the Basel standards on the treatment of cryptoasset exposures locally by 1 January 2025, in accordance with the BCBS timetable.