Market Abuse

Singapore Jails Man for Spoofing, False Telegram Statements

20/12/2022

Kenneth Goh pleaded guilty to creating a false appearance in the market 325 times, deceiving two brokers, and making false statements in Telegram chat groups.

Payments & Settlements

CSRC Sets 26 December Launch Date for DvP Reforms

20/12/2022

From 26 December, DvP settlement will be enabled for proprietary and custody business involving institutional investors.

Resolution & Recovery

US Regulators Identify Flaws in Resolution Plans of Two Major Banks

20/12/2022

Credit Suisse’s resolution plan had two deficiencies relating to its cash flow forecasting capabilities and governance for its US operations. BNP Paribas had one shortcoming.

Cryptocurrency

Indonesian Lawmakers Pass Major Financial Sector Reforms

20/12/2022

The legislation changes the central bank’s mandate, shifts crypto sector oversight to OJK, makes a digital rupiah legal tender, and introduces a carbon trading framework.

Tokenisation

CGS-CIMB Becomes First Brokerage to Establish Link to ADDX

20/12/2022

CGS-CIMB is providing accredited investor clients access to tokenised and fractionalised private market securities via ADDX.

Capital Adequacy

MAS to Defer Implementation of Final Basel III Reforms

20/12/2022

MAS said it will defer the implementation of the final Basel III reforms in Singapore, to between 1 January 2024 and 1 January 2025.

Trading & Investment

Shenzhen Exchange to Pilot Cross-Border Bonds to Serve GBA

20/12/2022

Issuers can be Chinese government entities or high-quality corporates. The SZSE is temporarily not charging any fees for cross-border bond listing services.

Anti-Money Laundering

IDAXA to Develop Global AML Standards for Crypto Industry

20/12/2022

IDAXA has launched a new working group, chaired by former policymaker Andrew Churchill, to propose globally harmonised AML/CFT standards for virtual asset service providers and regulators.

Trading & Investment

SFC, CSRC Announce Move to Expand Scope of Stock Connect

19/12/2022

After the expansion, Stock Connect is expected to include stocks that account for more than 80 percent of equity trading in each market.