United States

ESG / Sustainability

SEC Philippines to Issue Revised Sustainability Reporting Guidelines

By Sanday Chongo Kabange | 08/09/2023

The SEC says the revised guidelines will take into account the IFRS S1 and S2 standards and ensure listed companies report sustainability information consistently.

Sanctions

Bangladesh Banks Directed to Stop Transacting With Myanmar State Banks

By Editors | 07/09/2023

Citing US sanctions, Bangladesh Bank instructed banks to stop transacting with Myanma Foreign Trade Bank and Myanma Investment and Commercial Bank.

Securities / Derivatives

Philippines Will Implement Short Selling Rules, Says Regulator

By Sanday Chongo Kabange | 07/09/2023

The SEC approved guidelines on short selling as early as 2018. It now says it is pushing to align its rules with major Asian markets.

Crypto / Digital Assets

FASB Votes to Adopt New Crypto Accounting Standard

By Manesh Samtani | 07/09/2023

Under the new rules, companies will be required to measure crypto assets using fair value accounting, instead of the existing cost-less-impairment model.

Sanctions

US, Korea, Japan Announce New DRPK Sanctions

By Editors | 01/09/2023

The three countries pledged to continue working together to counter North Korea’s destabilising activities, including weapons development and cyber attacks.

AML / KYC

Switzerland Proposes Strengthening of AML Framework

By Manesh Samtani | 31/08/2023

The proposed framework would enhance beneficial ownership transparency and make lawyers, consultants and accountants responsible for AML checks.

Enforcement

US SEC Fines Citigroup for ‘Wilful’ Record-Keeping Violations

By Editors | 30/08/2023

The SEC said Citigroup Global Markets used an “unsubstantiated and unverified” method to calculate and record indirect expenses associated with its underwriting work.

Crypto / Digital Assets

US Court Orders SEC to Review Grayscale Bitcoin ETF Application

By Editors | 30/08/2023

The court said the SEC failed to adequately explain why it approved the listing of bitcoin futures ETPs but not Grayscale’s proposed spot bitcoin ETF.

Enforcement

CFTC Fines Goldman Sachs for Missing Audio Recordings

By Editors | 30/08/2023

Goldman’s vendor service for recording mobile calls failed during the pandemic. Commissioner Caroline Pham said the penalty is unfair.