AML / KYC

India: ICAI Probes 200 Accountants Over Shell Company Setups

26/09/2022

Around 200 chartered accountants are subject to a probe involving shell companies established in India by Chinese firms.

ESG / Sustainability

US Banks Threaten to Quit GFANZ Over Legal Risks

26/09/2022

JPMorgan, BofA and Morgan Stanley are concerned about being sued over increasingly stringent decarbonisation commitments.

Fintech / Regtech

SEBI to Tighten Rules on Algo Trading Offered to Retail

26/09/2022

SEBI will scrutinise firms offering algorithmic trading services that claim high returns but cannot be audited or validated.

Taiwan to Allow Insurers to Bring Investment Income Home

26/09/2022

Taiwan’s central bank may allow insurers to remit their overseas investment income back home to ease pressure on the TWD.

Crypto / Digital Assets

ICMA Publishes Guidance on DLT-based Bonds

26/09/2022

The FAQs are designed to provide “non-experts” a basic understanding of DLT bonds and their impact on capital markets.

US Banks Pledge to Take Government’s Lead on Taiwan Issue

26/09/2022

JPMorgan Chase, Bank of America and Citigroup would exit China if so ordered by the US government in response to an attack on Taiwan.

Hong Kong Scraps Hotel Quarantine Requirement

26/09/2022

The relaxation comes as Singapore overtakes Hong Kong as the world’s third most favoured financial centre in the Global Financial Centres Index.

AML / KYC

HKMA Penalises Cathay United Bank for AML Deficiencies

25/09/2022

Besides CDD and EDD failures, the bank’s risk classification framework was “defective by design” and senior management oversight was “inadequate”.

Market Infrastructure

Japan Commences Holiday Trading in Derivatives Market

25/09/2022

Holiday trading is now allowed on Osaka Exchange and TOCOM – for index and commodity futures and options.