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Sanctions
G7 Says Switzerland Is Not Doing Enough to Combat Sanctions Evasion
17/04/2023
Switzerland, though officially neutral, has frozen Russian assets worth about a third of the EUR 21.5 billion frozen across the EU.
Securities / Derivatives
CFFEX Set to Launch 30 Year Treasury Bond Futures
16/04/2023
CFFEX already offers futures trading in 2-year, 5-year, and 10-year treasury bond futures. The 30-year contract will start trading on Friday (21 April).
Capital / Liquidity
Fed Approves UBS Acquisition of Credit Suisse US Subsidiaries
16/04/2023
UBS needs authorities in 58 countries to approve the merger, which will create a business with more than $5tr in total invested assets.
Securities / Derivatives
CSRC Consults on Rules to Enhance Independent Director System
16/04/2023
A qualification system, code of professional ethics, and information database for independent directors of listed companies will be established.
Enforcement
SocGen Agrees to $105m Euribor Rigging Settlement
16/04/2023
If approved by the court, the settlement would mean investors have won USD 651.5 million in Euribor-rigging settlements with seven banks.
ACCC Proposes Reforms to Australia’s Merger Laws
16/04/2023
Current laws do not require merger parties to notify the ACCC of planned mergers, or to wait for clearance before they complete the merger.
Enforcement
Japan FTC Cautions Mizuho Securities Over IPO Price-setting
16/04/2023
Mizuho Securities, as lead underwriter, set the issue prices of two companies lower than the companies were seeking. Both more than doubled in value on their IPO.
Sanctions
US Commerce Dept Adds 12 Chinese Entities to Entity List
15/04/2023
The entities allegedly acquired or attempted to acquire US-origin items in support of Russia’s military effort.
Securities / Derivatives
Korea to Develop Fund Manager Guidance on Exercise of Voting Rights
15/04/2023
There is currently insufficient guidance on the exercise of voting rights, particularly for issues involving corporate governance and ESG matters, the FSS said.
Crypto / Digital Assets
Japan Policymaking Body Approves New Web3 White Paper
15/04/2023
The paper covers crypto taxation, a DAO law, token screening, stablecoin registration, and Web3 accounting standards.
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