United States

AML / KYC

OFAC Settles Iran Sanctions Case with Berkshire Hathaway

By Editors | 20/10/2020

A Berkshire subsidiary knowingly exported cutting tools and related inserts to Turkish distributors to then be shipped to a distributor in Iran for resale to Iranian end-users.

Capital / Liquidity

BCBS Task Force Outlines Progress on Climate Risk Initiatives

By Shruti Khairnar | 20/10/2020

Kevin Stiroh, Co-chair of the Task Force on Climate-related Financial Risks, highlighted the importance of globally concerted efforts and information sharing.

AML / KYC

Goldman US Penalty Over 1MDB to be Announced ‘Within Days’

By Editors | 20/10/2020

Goldman Sachs Group has reportedly reached a more than $2bn settlement with the US DOJ over its role in Malaysia’s 1MDB scandal.

AML / KYC

Global Tax Evasion Probe Targets Euro Capital Bank, Puerto Rico

By Manesh Samtani | 18/10/2020

Euro Pacific Bank, founded in 2017 by Peter Schiff and Mark Anderson, is said to be used by up to 400 Australian nationals, about 100 of which are considered “high-risk”.

Enforcement

US Considers Adding Ant Group to Trade Blacklist – Report

By Editors | 15/10/2020

US officials reportedly fear the Chinese government could access sensitive banking data belonging to future US users of the Alipay payment app.

AML / KYC

HKAA Sanctions Mark Formal Warning to Global Banks

By Manesh Samtani | 15/10/2020

International financial institutions conducting ‘significant transactions’ with the ten sanctioned individuals could face secondary sanctions.

Securities / Derivatives

HKFE Obtains CFTC Certification for Non-USD MSCI Contracts

By Editors | 15/10/2020

The Hong Kong Futures Exchange has received CFTC certification for its SGD Singapore futures contract and two JPY Japan contracts.

Securities / Derivatives

China Excludes HSBC from Sovereign Bond Sale – Reports

By Editors | 14/10/2020

HSBC is the only lender that participated in China’s November 2019 dollar debt offering that isn’t participating in this year’s issuance.

Securities / Derivatives

Sri Lanka SEC to Overhaul Capital Market Rules in Stages

By Duruthu E Chandrasekera | 13/10/2020

“The market has evolved over the past ten years and technology has also raised the bar. There is a need to be in line with the times,” SEC Chairman Viraj Dayaratne told Regulation Asia.