Fintech / Regtech

FSS Korea Launches New Reporting System for PE Funds

17/04/2024

The new system improves convenience for reporting firms and eases the review process prior to submission, the FSS said.

Enforcement

No Criminal Misconduct Found in EY’s Wirecard Audits

17/04/2024

EY could have faced unlimited liability for claims of damages from Wirecard’s administrator and former shareholders if criminal misconduct was found.

Securities / Derivatives

CSRC Addresses Concerns Over New Delisting Rules

17/04/2024

Chinese small-cap stocks sold off for two days after the CSRC announced new delisting rules and dividend requirements for listed companies.

Capital / Liquidity

China’s Ability to Support Big Six Banks is ‘Constrained’: Fitch

17/04/2024

The large size of China’s banking sector and the number of D-SIBs constrain the government’s ability to support the sector, Fitch Ratings said.

AML / KYC

GLEIF Announces First European-based vLEI Issuer

17/04/2024

The vLEI is the cryptographically secure digital counterpart of a conventional LEI that can be used to automate business process.

Sanctions

Copper Being Disguised as Scrap for Russia-China Trade – Report

16/04/2024

Chinese firms are using this mechanism to benefit from lower tax and to make it more difficult to trace the copper to its Russian origin.

Securities / Derivatives

BNP Paribas Wins Approval for Securities Unit in China

16/04/2024

The approval comes three years after the application. The new wholly-owned securities unit will be established in Shanghai.

Enforcement

SFC Orders Trading Suspension of Listed Fruit Products Seller

16/04/2024

The company was earlier ordered to reconstitute its board of directors and engage an independent manager over more than $60m in missing funds.

Crypto / Digital Assets

Three Crypto Firms Enter Into Liquidation in Australia

16/04/2024

A$55mn worth of assets belonging to a crypto fund operator have been frozen by court order, after investors became concerned about the fund’s management.