Enforcement

UBS Settles RMBS-related Misconduct Lawsuit for Over $1.4b

15/08/2023

The settlement brings the total amount of civil penalties paid by firms for failed RMBS leading up to the 2008 financial crisis to over USD 36 billion.

Securities / Derivatives

SEBI Reduces Investor Exit Window for AMC Change in Control

14/08/2023

The exit option window period is reduced from 30 to 15 calendar days after a change in control of the AMC is announced.

Securities / Derivatives

New Rules Could Force a Third of China’s Hedge Funds to Close

14/08/2023

Almost 35,000 hedge fund products in China will fall under the new CNY 10 million minimum asset requirement set to take effect in September.

Crypto / Digital Assets

MUFG, NTT Data Announce Partnership on Digital Corporate Bonds

14/08/2023

NTT Data will connect its corporate bond issuance infrastructure directly to MUFG’s Progmat platform for issuing security tokens.

Securities / Derivatives

FSC Korea Specifies New Rules Under Revised Asset Securitisation Act

14/08/2023

The FSC more companies to be able to smoothly raise funds through asset securitisation once the Act and its subordinate statutes take effect on 12 January 2024.

Market Infrastructure

China State Council Unveils 24 Measures to Lure Foreign Firms

14/08/2023

Measures include commitment to explore enhanced mechanism for cross-border data flows, and a “green channel” for foreign firms to carry out security assessments for the export of data.

Sanctions

Myanmar Allows Thai Baht to be in International Payments

14/08/2023

Myanmar’s Military Council has designated the Thai Baht as a currency for both international payments and account clearing.

Securities / Derivatives

Shanghai INE to Launch New Container Freight Index Futures Contract

14/08/2023

Shanghai International Energy Exchange is launching the new futures contract to help firms hedge against fluctuations in container freight prices.

Securities / Derivatives

China Amends Index Fund Rules to Support ‘Technological Self-reliance’

14/08/2023

An index must only be in operation for three months before it can be used in the development of a fund product, compared to six months previously.