Enforcement

US Authorities Investigating Short Sales of Banking Stocks

09/05/2023

SEC chair Gary Gensler said the agency would go after any form of misconduct that might threaten investors or markets.

Capital / Liquidity

Fed Warns of Credit Contraction Resulting from Bank Stress

09/05/2023

Ongoing stresses in the banking system could lead to a broader contraction in credit, resulting in a “marked slowdown in economic activity”.

Securities / Derivatives

HSBC Strikes Deal to Buy Out China Fund Management JV

09/05/2023

HSBC has reportedly signed an agreement to raise its stake in the joint venture from  49 to 100 percent, subject to regulatory approval and other conditions.

AML / KYC

HK Companies Registry Issues AML Guidance for TCSP Licensees

09/05/2023

New guideline seeks to help trust or company service providers devise and implement policies, procedures and controls for AML/CTF.

Market Infrastructure

RBNZ Proposes to Collect More Data on Cyber Incidents

09/05/2023

The RBNZ proposes to introduce mandatory reporting of all material cyber incidents within 72 hours, and periodic reporting of non-material incidents.

Enforcement

Australia: Medibank Faces Four Class Actions Over October Cyberattack

09/05/2023

The Federal Court is expected to consolidate the class actions. Medibank is also facing an investigation from Australia’s privacy regulator.

Sanctions

EU Commission Proposes Sanctions Against Chinese Companies

09/05/2023

The proposals also include sanctions on Iranian companies, measures to restrict sales of certain products to third countries, and powers to ban oil tankers that conceal their location.

Fintech / Regtech

BIS to Test Quantum Resistant IT Environments for Financial System

09/05/2023

“Project Leap” will test the ability of a quantum-resistant algorithm to maintain the confidentiality of payment messages transmitted between Banque de France and Deutsche Bundesbank.

ESG / Sustainability

New Zealand XRB Issues New Guidance on Climate-related Disclosures

08/05/2023

The guidance aims to support entities in preparing climate-related disclosures and to foster consistency through “clarity of understanding”.