International

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    Sanctions

    EU, UK Target Iran Shipping, Aviation With New Sanctions

    By Manesh Samtani | 20/11/2024

    The sanctions aim to curb Iran’s ability to facilitate drone, missile, and military technology transfers to aid Russia in its war in Ukraine.

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    Fintech / Regtech

    EU Publishes Draft Code of Practice for General-Purpose AI

    By Thisanka Siripala | 20/11/2024

    The draft Code of Practice sets out 22 measures for providers of general-purpose AI models, aiming to foster accountable and human-centric AI development.

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    Enforcement

    US Agencies Probe AML Policies and Systems at Citi – Reports

    By Editors | 20/11/2024

    The probe centres on Citigroup’s work for Heritage Trust, which holds assets owned by a sanctioned Russian billionaire.

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    Securities / Derivatives

    IOSCO Unveils Roadmap to Enhance Retail Investor Online Safety

    By Mark Johnston | 20/11/2024

    IOSCO released three consultation reports as part of the first wave of the roadmap to retail investor online safety.

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    Fintech / Regtech

    BIS Launches GenAI Project to Improve ‘Inflation Nowcasting’

    By Manesh Samtani | 20/11/2024

    Project Spectrum will use GenAI to automatically categorise billions of individual product descriptions and price observations to improve inflation nowcasting.

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    AML / KYC

    Singapore: $1.4b from Overseas Suspects Surrendered to State

    By Nithya Subramanian | 20/11/2024

    Police said 15 of 17 suspected money launderers who fled Singapore agreed to surrender assets to end the cases against them.

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    Capital / Liquidity

    FSB Urges G20 Leaders to Fully Implement Agreed Reforms

    By Mark Johnston | 20/11/2024

    FSB Chair Klaas Knot emphasises the importance of addressing financial system vulnerabilities, including through the full and timely implementation of agreed reforms.

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    Sanctions

    OFAC Sanctions Israeli Group Over West Bank Violence

    By Editors | 20/11/2024

    Amana is the largest entity targeted with US sanctions for violence in the occupied West Bank by Israeli settlers.

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    Market Infrastructure

    ESMA Proposes 11 October 2027 for Migration to T+1 Settlement

    By Manesh Samtani | 19/11/2024

    ESMA says 11 October 2027 is the optimal date for the transition, and that it must be coordinated with other jurisdictions in Europe.

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    Fintech / Regtech

    FSB Flags Growing Risks of AI Adoption in Financial Services

    By Thisanka Siripala | 19/11/2024

    New FSB report identifies AI-related vulnerabilities in the financial sector that can potentially increase systemic risk.

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