Capital / Liquidity

More Credit Suisse AT1 Bondholders Sue FINMA

04/05/2023

The suit means that investors representing up to a third of the $17bn in AT1 bonds issued by Credit Suisse have now launched legal action.

HKMA Set to Implement New Rules for Trust Business

03/05/2023

Banks must report by 15 May on whether they and/or their subsidiaries carry on trust business in Hong Kong. The new rules commence on 1 June.

ESG / Sustainability

Australia: Taxonomy Needed to Effectively Combat Greenwashing

03/05/2023

Minister Stephen Jones said ASIC will only be able to catch the most egregious examples of greenwashing unless Australia gets its taxonomy right.

AML / KYC

SEBI Mandates LEI Reporting Requirement for Debt Issuers

03/05/2023

Issuers of listed non-convertible securities, securitised debt instruments and security receipts must obtain and report their LEI by 1 September.

AML / KYC

Taiwan to Release New Rules for Crypto in September

03/05/2023

The FSC is creating a new bureau that will be dedicated to the crypto sector, adding to its four existing bureaus.

Crypto / Digital Assets

OFAC Fines Crypto Firm Poloniex for 66,000 Sanctions Violations

03/05/2023

Poloniex allowed customers located in Crimea, Cuba, Iran, Sudan, and Syria to engage in online digital asset-related transactions worth $15.3mn.

Enforcement

HK Court Freezes Assets of Former Morgan Stanley Manager

03/05/2023

The former manager used inside information from a deal Morgan Stanley was advising on to generate HK$4.2mn in profits for herself and a friend.

Fintech / Regtech

Hong Kong Virtual Banks Saw Narrower Losses in 2022 – Report

02/05/2023

ZA Bank and Mox Bank have the largest customer bases. None of the eight virtual banks are profitable yet, but their losses have mostly narrowed.

Fintech / Regtech

Singapore Fintechs to Get Support for Australia Expansion

02/05/2023

The SFA and Austrade signed an MoU that will help fintechs expand across borders. Support will be provided by Enterprise Singapore, HSBC and AWS.