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United States
Stablecoins
Singapore Police are Investigating Terraform Labs – Report
By Editors | 06/03/2023
Singapore police confirmed “ongoing” investigations into Terraform Labs, which is also being sued by the US SEC following its collapse last May.
Cryptocurrency
Crypto Focused Bank Silvergate Edges Towards Closure
By Manesh Samtani | 06/03/2023
Silvergate warned that it was evaluating its ability to operate as a going concern, prompting client departures and the discontinuation of its crypto payments network.
PEPs & Sanctions
US Authorities to Target Those Who Facilitate Sanctions Evasion
By Editors | 06/03/2023
China (incl. HK and Macau), Armenia, Turkey and Uzbekistan are named as “transshipment points commonly used to illegally redirect restricted items to Russia or Belarus”.
PEPs & Sanctions
US Commerce Department Adds 3 Dozen Entities to Trade Blacklist
By Editors | 06/03/2023
Of the 37 companies added to the list, 28 are Chinese entities including those involved in advanced technologies and genetic data collection.
PEPs & Sanctions
OFAC Penalises Indian Tobacco-maker for Sanctions Violations
By Editors | 06/03/2023
Godfrey Phillips India exported tobacco to North Korea through a Thai intermediary, saying they were going to China. Hong Kong intermediaries were used to make the payments.
Cybersecurity
US Unveils New Cybersecurity Strategy Focusing on Ransomware Attacks
By Mark Johnston | 05/03/2023
The strategy involves leveraging international cooperation, investigating crimes, bolstering infrastructure resilience, and addressing virtual currency abuse.
Anti-Bribery & Corruption
US Authorities Fine Ericsson $200m for Breaching 2019 DPA
By Editors | 04/03/2023
Ericsson breached a 2019 deferred prosecution agreement intended to resolve a probe into 17 years of alleged corruption in Djibouti, China, Vietnam, Indonesia, and Kuwait.
Reporting & Disclosures
Japan Sets Timeline for Domestic Implementation of ISSB Standards
By Editors | 03/03/2023
Japan will issue draft sustainability disclosure standards based on the ISSB standards by 31 March 2024, and final standards by 31 March 2025.
Clearing & Post-Trade
AFME Announces Establishment of T+1 Industry Taskforce
By Editors | 02/03/2023
The task force will assess whether Europe should follow the US and other jurisdictions in moving to shorter settlement cycles.
Reporting & Disclosures
US Senate Votes to Overturn ESG Investing Rule for Retirement Funds
By Mark Johnston | 02/03/2023
The US Senate voted to repeal a Labour Department rule that allowed managers of retirement funds to consider ESG factors in their investments.
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