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Hong Kong SFC enforcement action: Southwest Securities fined 5 million HK$ for AML failings

SFC reprimands and fines Southwest Securities (HK) Brokerage Limited $5 million for breaches of anti-money laundering regulatory requirements 18 May 2020 The Securities and Futures Commission (SFC) has reprimanded and fined Southwest Securities (HK) Brokerage Limited (SSBL) $5 million for failures in complying with anti-money laundering and counter-terrorist financing (AML/CFT) […]

EU extends Syria sanctions for another year

Syria: Sanctions against the regime extended by one year The Council today extended EU restrictive measures against the Syrian regime for one additional year, until 1 June 2021. In line with the EU strategy on Syria, the EU decided to maintain its restrictive measures against the Syrian regime and its supporters, as the repressionof […]

May 27, 2020: Iran-a-Rama, Part 1 – the designations, FAQs and State Department Press Release

Yesterday, OFAC designated the following two persons: AGHA’I, Majid (a.k.a. AGHAEI, Majid), Iran; DOB 13 Apr 1984; POB Ghom, Iran; nationality Iran; Additional Sanctions Information – Subject to Secondary Sanctions; Gender Male; National ID No. 1199310281 (Iran) (individual) [NPWMD] [IFSR].  SAZGAR, Amjad, Iran; DOB 16 Apr 1979; POB Babol, Iran; nationality Iran; […]

What about a SHTA for North Korea?

That’s the subject of my new article for Regulation Asia – Humanitarian Trade with North Korea: A Matter of Trust. It’s not just finding a government that will provide a clearinghouse for the transactions and the associated due diligence and reporting – it’s navigating the geopolitics, too. Let me know […]

DFSA announces RegTech Live virtual event

Dubai Financial Services Authority to host RegTech Live event  27 May 2020 The Dubai Financial Services Authority (DFSA) will be hosting a virtual event on the 2nd and 3rd of June. The event, RegTech Live: Driving Compliance Through Innovation, will be held in partnership with the Dubai International Financial Centre Authority […]