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PEPs & Sanctions
HKMA May Replace State Street as Manager of Tracker Fund
By Editors | 13/01/2021
State Street will no longer be able to buy shares in companies sanctioned by the US, including China Mobile and China Unicom.
Anti-Bribery & Corruption
Deutsche Bank to Pay $130m to Resolve FCPA Violations, Fraud Charges
By Editors | 11/01/2021
The bank’s employees and agents concealed bribes paid to obtain and maintain lucrative business in Saudi Arabia, Abu Dhabi, Italy and China.
PEPs & Sanctions
China Issues New Rules to Protect from Foreign Sanctions
By Manesh Samtani | 11/01/2021
Global businesses that comply with sanctions deemed illegal by MOFCOM can be sued for compensation in Chinese courts.
Payments & Settlements
White House Bans US Transactions With Chinese Payment Apps
By Editors | 06/01/2021
White House allies including Treasury Secretary Steve Mnuchin also reportedly pressured the NYSE to again reverse its decision on delisting Chinese telecom stocks.
PEPs & Sanctions
FTSE Russell to Remove More Chinese Companies from Indexes
By Editors | 06/01/2021
The three companies being removed are China United Network Communications, Semiconductor Manufacturing International Corporation and Nanjing Panda Electronics.
PEPs & Sanctions
UPDATED – NYSE Commences, Then Halts Delisting of Chinese Companies
By Editors | 05/01/2021
NYSE will no longer delist the ADRs of China Telecom, China Mobile and China Unicom “in light of further consultation with relevant regulatory authorities”.
PEPs & Sanctions
OFAC Extends Chinese Military Company Ban to Subsidiaries
By Editors | 03/01/2021
In a set of FAQs, OFAC has clarified that Executive Order 13959 also applies to subsidiaries, derivatives, ETFs, index funds and mutual funds.
Anti-Money Laundering
Federal Reserve Orders Credit Suisse to Enhance AML Controls
By Editors | 31/12/2020
Credit Suisse is required to improve its risk assessment, customer due diligence, suspicious activity monitoring and reporting processes.
Trading & Investment
HKFE Announces Launch Date for Hang Seng TECH Index Options
By Editors | 31/12/2020
The Hang Seng TECH Index Futures, introduced in November, have now been certified by the CFTC to be offered and sold to persons in the US.
Stablecoins
US Regulators Call for Responsible Stablecoin Design, Operation
By Editors | 31/12/2020
Stablecoin participants and arrangements should register with FinCEN and comply with AML, sanctions, recordkeeping and reporting requirements.
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