Anti-Money Laundering

US Court Orders BitMEX Co-Founders to Pay $30m in Fines

08/05/2022

The orders follow the CFTC’s $100mn settlement with five BitMEX entities last year over violations of US derivatives and AML regulations.

Liquidity Risk

PBOC, CBIRC Probe Rural Banks Over Service Disruptions

08/05/2022

Customers of multiple rural banks complained that banking service disruptions have prevented them from withdrawing their money.

Market Data & Technology

SEBI Directs Stock Exchanges to Audit Systems and Networks

08/05/2022

Stock exchanges must certify that their trading architecture and co-location facilities conform with regulatory requirements and treat all market participants fairly and equitably.

Conduct, Culture & Accountability

RBI Issues Guidance for NBFCs on Senior Manager Remuneration

07/05/2022

NBFCs should constitute remuneration committees and use malus or clawback arrangements to account for possible misconduct or poor financial performance.

Credit Risk

Human Rights Abuses Prompt Review of Cambodian Microloans

07/05/2022

Ombudsman agrees to review complaint from Cambodian NGOs alleging IFC funding contributed to human rights abuses in microfinance lending.

Conduct, Culture & Accountability

CBIRC Warns Three FIs Over Complaints Handling Violations

07/05/2022

ICBC, China Everbright Bank and China Post Life Insurance violated the CBIRC’s rules for handling customer complaints and reporting complaints data.

Liquidity Risk

RBI Surprises Market with Interest Rate Hike

06/05/2022

The RBI also increased the cash reserve ratio, the percentage of cash that banks need to keep in reserve against their total deposits.

Market Abuse

Two Convicted in Singapore’s Largest-ever Market Manipulation Case

06/05/2022

Two individuals were convicted on 349 charges for controlling and using 187 trading accounts to manipulate three penny stocks before they collapsed in October 2013.

Cryptocurrency

Central African Republic Adopts Bitcoin as Legal Tender

06/05/2022

The adoption of Bitcoin as legal tender is expected to make transactions in CAR easier, but the move is seen as part of a power struggle between Russia and France.