Payments & Settlements

US to Launch FedNow Instant Payments Platform in Mid 2023

31/08/2022

The technical testing phase of the new FedNow Service will kick off in mid-September. The service will be ready to launch between May and July of 2023.

Fraud, Scams & Cybercrime

Chinese Police Arrest 234 Suspects for Henan Bank Fraud

31/08/2022

Authorities say they have made “significant progress” in recovering the stolen money and have also started repaying more victims of the fraud.

Trading & Investment

MOEX Set to Start Listing ‘Replacement Bonds’ – Report

31/08/2022

Replacement bonds are intended to help Russian companies replace Eurobond issuances that are no longer serviceable due to sanctions.

Structural Regulation

Singapore to Launch New Work Pass to Draw Overseas Talent

30/08/2022

“We cannot leave any room for investors to doubt or have questions as to whether Singapore remains open,” said Manpower Minister Tan See Leng.

Fraud, Scams & Cybercrime

HKMA Warns of Deposit Scams Being Used by Fraudsters

30/08/2022

Fraudsters claiming to be financial advisors are soliciting deposits in unknown foreign banks by promising high deposit rates.

Structural Regulation

ASIC Directs Super Trustees to Improve DDO Compliance

30/08/2022

ASIC reviewed target market determinations for superannuation products and found noncompliance and poor practices by some trustees.

Resolution & Recovery

China: Two Liaoning Bank Enter into Bankruptcy Proceedings

30/08/2022

Liaoning authorities say that the two banks violated laws and regulations, disrupted local financial order, and brought about “serious risks”.

Cryptocurrency

Japan Considers Relaxation of Crypto Taxation Policies

30/08/2022

Authorities are considering a system under which crypto asset issuers would only be taxed when profits are generated, and not based on unrealised gains.

Cryptocurrency

BOK Calls for Reversal of ICO Ban in Korea

30/08/2022

BOK says the ban has resulted in domestic companies turning overseas to issue new crypto assets, which are then listed on Korean crypto exchanges.