Clearing & Post-Trade

HKMA, SFC to Proceed With Changes to FSP List

27/06/2022

One new entity, Nomura Financial Products Europe GmbH, is being added to the FSP List under the OTC derivatives regime.

Fraud, Scams & Cybercrime

Korea FSS to Punish Illegal Business Lending by Savings Banks

27/06/2022

Restrictions on household loans appear to have caused an increase in loans to businesses from savings banks to fund housing purchases.

Payments & Settlements

China Approves Plans to Strengthen Payments, Fintech Regulation

27/06/2022

The plan, approved by President Xi Jinping, calls for the “complete inclusion” of payments and other financial activities within regulations.

Cryptocurrency

Chinese Courts Rule Sales Agreement Involving Crypto as Invalid

26/06/2022

The court said virtual currencies are not legal tender, referencing the 2017 declaration from the PBOC. A higher court upheld the ruling.

Conduct, Culture & Accountability

ASIC Demands More Transparent Communications from Super Trustees

26/06/2022

The communication strategies of some trustees may have risked confusing or misleading members about their product’s performance, ASIC said.

Market Abuse

Court Rules Foreign Banks Must Face LIBOR Lawsuits in US

26/06/2022

The Supreme Court has allowed lawsuits accusing foreign banks of manipulating LIBOR to be heard in New York even though the banks did not operate in the US.

Trading & Investment

CFFEX Proposes to Launch New Derivatives Based on CSI 1000 Index

26/06/2022

New futures and options contracts will be based on the CSI 1000 index, which is considered a comprehensive reflection of the small A-share market.

Trading & Investment

SEBI Reviews Plans to Allow FPI Access to Commodity Derivatives

26/06/2022

SEBI asked large market participants to recommend risk management measures needed to allow FPI participation in exchange-traded commodity derivatives.

Structural Regulation

RBI Gets Recommendations on Streamlining Regulatory Requirements

25/06/2022

The RBI’s Regulations Review Authority has also recommended the total elimination of paper-based returns.