United States

Custody & Infrastructure

US Lawmakers Introduce Bill on Custody of Digital Assets

By Editors | 28/09/2023

The Uniform Treatment of Custodial Assets Act would rescind an SEC accounting bulletin that prevents banks from providing custodial services to digital assets investors.

Structural Regulation

Philippine SEC Eases Disclosure Rules for Public Offerings

By Mark Johnston | 28/09/2023

The “streamlined procedures” are part of the SEC’s efforts to encourage more companies to tap the capital markets.

PEPs & Sanctions

OFAC Sanctions Procurement Network for Iranian Drones

By Editors | 28/09/2023

The new sanctions target five entities and two individuals based in Iran, China, Hong Kong, Turkey and UAE.

PEPs & Sanctions

UPDATED – US DOJ Probes Possible Sanctions Violations at Credit Suisse, UBS – Report

By Editors | 28/09/2023

The DOJ has requested information about how Credit Suisse and UBS handled the accounts of sanctioned clients in recent years.

KYC & CDD

FinCEN to Extend Deadline for New Companies to Report Beneficial Owners

By Editors | 27/09/2023

Entities created or registered in 2024 would have 90 days instead of 30 days to file their beneficial ownership reports.

Reporting & Disclosures

SFDR Overhaul Signals More Uncertainty for Managers

By ESG Investor | 27/09/2023

Review could permit greater interoperability with fund-labelling, disclosure regimes in other jurisdictions.

Supervision & Enforcement

JPMorgan Settles Remaining Epstein-related Lawsuits

By Editors | 27/09/2023

The bank will pay $75mn to the US Virgin Islands and has also settled its own lawsuit against former executive Jes Staley for an undisclosed sum.

KYC & CDD

Philippine SEC Stresses Need for CDD on DNFBP Clients

By Sanday Chongo Kabange | 26/09/2023

Regulated firms that don’t identify and verify the true identity of DNFBP clients and their beneficial owners may face enforcement action.

Sustainable Finance

Addressing Concern About SLBs With Enhanced Targets and Structure

By Joanne Teo | 26/09/2023

SGX RegCo’s Joanne Teo and Michael Tang discuss the use of sustainability-linked bonds to finance transition efforts and how to enhance the credibility of such instruments.