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In AML & Financial Services Regulatory

European Union: Alternative Investment Fund Managers Directive II is out

by and 1 Min Read

On 26 March 2024, Directive (EU) 2024/927 amending the Alternative Investment Fund Managers Directive and the Undertaking for Collective Investment in Transferable Securities Directive relating to delegation arrangements, liquidity risk management, supervisory reporting, provision of depositary and custody services and loan origination by alternative investment funds (AIFMD II or “Directive”) was published in the Official Journal of the European Union.
AIFMD II will enter into force on 15 April 2024.

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In ESG

United Kingdom: How should the investment management industry tackle compliance with the FCA’s anti-greenwashing rule?

by and 2 Mins Read

Greenwashing refers to the practice of making exaggerated, misleading or unsubstantiated claims in relation to the sustainability credentials of financial products and services. The risk of greenwashing claims has risen significantly in recent years, in tandem with investor demand for more sustainable investment products. This has been evidenced not only by well-publicized enforcement action both in Europe and the UK, but also by a flurry of recent claims by NGOs against financial institutions.

In AML & Financial Services Regulatory

Argentina: Enactment of the regulatory framework for the prevention of money laundering and financing of terrorism

by , , and 1 Min Read

On 14 March, the amendments to the Law on the Prevention of Money Laundering and Financing of Terrorism (Law 27,739) were approved. They implement changes and updates to adjust local regulations to international standards and the recommendations of the Financial Action Task Force (GAFI).
Argentina is currently undergoing a GAFI/GAFILAT review and evaluation process. In that sense, Law 27,739 was promoted by the Financial Information Unit (UIF) to introduce more tools to combat organized crime, promote compliance with obligations of the private sector and address key aspects that emerged from the GAFI/GAFILAT mutual evaluation.

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In AML & Financial Services Regulatory

Hong Kong: New Sandbox regime for stablecoins released by Hong Kong Monetary Authority

by 3 Mins Read

On 12 March 2024, the Hong Kong Monetary Authority (HKMA) issued a press release announcing the launch of its new stablecoin issuer sandbox arrangement (“Stablecoin Sandbox”). The Stablecoin Sandbox is another step following the legislative proposal to implement a new regulatory regime for stablecoin issuers. The Stablecoin Sandbox will facilitate communications between the HKMA and interested stablecoin issuers to gauge the expected regulatory standards.

In AML & Financial Services Regulatory

Thailand: Bills as securities | New definition, new offering rules

by 4 Mins Read

Following a new regulation of the Securities and Exchange Commission of Thailand defining new characteristics of bills (i.e., bills of exchange and promissory notes) that are considered securities, the Capital Market Supervisory Board of Thailand has amended the requirements for offerings of bills to match the new definition. The new offering requirements will come into effect on 16 March 2024.

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In Corporate Compliance

Ukrainian laws in wartime

by 2 Mins Read

We’re pleased to present the 14th edition of Ukrainian Laws in Wartime: Guide for International and Domestic Businesses, a brief overview of the key features of wartime legislation. In this edition you’ll explore pertinent responses to the most common questions currently examined and addressed by international and Ukrainian businesses.

In AML & Financial Services Regulatory

Australia: The transition from the BEAR to the FAR happens on 15 March 2024

by and 3 Mins Read

The transition from the Banking Executive Accountability Regime to the Financial Accountability Regime is due to take place on 15 March 2024 for the banking industry. Companies covered by the regime need to be aware of these changes and ensure relevant documentation, including relating to accountable persons and variable remuneration, is up to date.

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