Securities / Derivatives

FSC Korea to Strengthen Financial Consumer Protection Act

12/07/2022

The FSC intends to amend the Act to allow only exceptional cases of consumer solicitation, where consent is obtained from the customers in advance.

HKMA Issues Bank Guidance on Selling Protection Linked Plans

12/07/2022

Banks should discuss their plans for selling PLP with the HKMA and the details of pre-implementation reviews conducted by an independent party.

Securities / Derivatives

IOSCO Issues Op Resilience Guidance for Markets, Intermediaries

12/07/2022

IOSCO has set out observations and lessons learned from the pandemic response to help inform future operational resilience arrangements.

Crypto / Digital Assets

FSB Issues Statement on Crypto Assets Ahead of G20 Meeting

11/07/2022

The statement clarifies that so-called stablecoins and other crypto-assets “do not operate in a regulation-free space”.

Crypto / Digital Assets

Fed Vice Chair Calls for Swift Action on Crypto Regulation

11/07/2022

This is the right time to establish which crypto activities are permissible for regulated entities and under what constraints, Lael Brainard said.

Market Infrastructure

MAS Proposes to Exempt Some Market Operators from ACH/RCH Rules

11/07/2022

The exemption is for market operators that verify transactions and calculate transacting parties’ obligations, but do not actually clear or settle trades.

Market Infrastructure

ARRC Issues Transition Guidance for Legacy LIBOR Cash Products

11/07/2022

The LIBOR Legacy Playbook will help market participants transition legacy LIBOR cash products. Refinitiv will publish fallback rates based on the CME Term SOFR rates in September.

ESG / Sustainability

Bangladesh Infrastructure Loans to Require E&S Assessments

11/07/2022

Environmental and social impact assessments will have to be arranged by borrowers and submitted with their loan applications.

Crypto / Digital Assets

US Treasury Outlines Approach to International Engagement on Crypto

11/07/2022

The US will promote the adoption and implementation of international standards while ensuring a “coordinated message” and limiting duplication of work.