Focus Insight

FCA’s proposed changes to AML reporting could catch out crypto exchanges

Earlier this week the FCA announced proposals to extend anti-money laundering reporting requirements in its financial crime controls to include…

28 August 2020

Singapore and Hong Kong regulators propose enhanced enforcement powers to tackle bad apples

On 21 July 2020, the Monetary Authority of Singapore (MAS) issued a consultation paper on a new omnibus act (Omnibus Act) for the financial sector…

27 August 2020

HKMA says banks need to take on climate risks and spells out expectations

The Hong Kong Monetary Authority(HKMA)’s offices sit on the 55th floor of the City's glistening International Financial Centre, some 200 metres above…

25 August 2020

Three takeaways from FinCEN’s statement on enforcement of BSA/AML requirements

As we noted in a client alert late last week, the federal banking agencies released on August 13, 2020, a joint statement on enforcement of Bank…

18 August 2020

Is Bitcoin money?

In the recent decision of Commissioner of Police v Bigatton [2020] NSWSC 245 (Bigatton) Judge Cavanaugh told us that [C]ryptocurrencies are known as…

18 August 2020

Switzerland's FINMA approves first supervisory organisations and registration office for client advisers

The Swiss Federal Council enacted the Financial Services Act (FinSA) and the Financial Institutions Act (FinIA) together with the implementing ordinances to…

18 August 2020

MAS consultation paper on a new omnibus act for Singapore's financial sector

On 21 July 2020, the Monetary Authority of Singapore ("MAS") released a consultation paper to seek feedback in relation to a proposed new omnibus act…

17 August 2020

LIBOR - A legislative solution?

As the end of 2021 deadline for the cessation of LIBOR approaches, supervising bodies on both sides of the Atlantic are working on legislative changes…

14 August 2020

Singapore: MAS proposes new regulation for Singapore persons performing digital token services outside Singapore

The Monetary Authority of Singapore (MAS) proposes a new Omnibus Act1 (New Act), which will contain a new regulatory framework for Singapore…

12 August 2020

AML - are lessons being learnt?

HM Treasury's annual AML and CFT supervision report - which concerns, amongst other things, the FCA's supervision and enforcement of the Money…

11 August 2020

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