A firm settled FINRA charges for failing to establish a reasonable AML program designed to report suspicious transactions, and for failing to respond reasonably to red flags associated with China-based accounts.
The U.S. Departments of State, Treasury, Commerce, Homeland Security and Labor and the Office of the U.S. Trade Representative advised businesses of potential exposure to "reputational, economic, and legal risks" for involvement with entities that engage in human rights violations occurring within China's Xinjiang Uyghur Autonomous Region.
Treasury reported that it "has not identified any foreign financial institution that has knowingly conducted a significant transaction" with previously identified sanctioned foreign persons pursuant to the Hong Kong Autonomy Act.
OFAC extended through June 11, 2021 the authorization for transactions that involve the securities of an entity whose name "closely matches, but does not exactly match" that of certain Communist Chinese military companies pursuant to Executive Orders.
The SEC published in the Federal Register an interim final rule amending Forms 20-F, 40-F, 10-K and N-CSR for registrants required to comply with disclosure and submission requirements under the Holding Foreign Companies Accountable Act.