Enforcement

Taiwan Allows Deutsche Bank to Resume FX Derivatives Trading

07/02/2022

Last February, Deutsche Bank’s Taipei branch was banned from trading TWD forwards and suspended for two years from trading FX derivatives.

Fintech / Regtech

Myanmar Military Government Seeks to Launch Digital Currency

07/02/2022

Myanmar’s military regime is reportedly considering issuing a digital currency as a joint venture with local companies.

AML / KYC

AUSTRAC Issues Guidance on Identifying Forced Sexual Servitude

07/02/2022

New financial crime guide provides practical advice to enable banks, businesses, and other FIs to identify and report potential cases of forced sexual servitude.

Enforcement

MAS Imposes Capital Surcharge on DBS for November Outage

07/02/2022

DBS has to hold SGD 930 million in additional regulatory capital until MAS is satisfied that it has addressed all shortcomings identified by an independent reviewer.

Market Infrastructure

ESMA Launches New Register for Simple Securitisations

07/02/2022

The new register provides originators and sponsors an enhanced notification system and assists investors in performing due diligence.

PBOC, CBIRC Revise Rules for Banks on Commercial Bills Business

07/02/2022

Banks and finance companies should not conduct commercial bill financing business exceeding 15 percent of their total assets.

AML / KYC

Australian Billionaire Launches Criminal Proceedings Against Facebook

06/02/2022

Fortescue Metals Group chairman Andrew Forrest alleges that Facebook broke AML laws by failing to prevent crypto scams from being advertised on its platform.

Capital / Liquidity

EU Regulators Consider Stricter Rules for Foreign Banks

06/02/2022

EU regulators are reportedly considering rule revisions that could force more foreign banks to operate as subsidiaries rather than branches.

Securities / Derivatives

China Eases Process for Investors to Seek Redress for Securities Fraud

06/02/2022

Administrative penalties or criminal judgments will no longer be preconditions for courts to accept civil compensation cases involving securities fraud.