Enforcement

RBI Penalised StanChart, SBI for Regulatory Violations

18/10/2021

The RBI cited non-compliance with its directions on customer protection, cybersecurity, outsourcing, and reporting.

Securities / Derivatives

China Set to Open More Derivatives to Foreign Investors

18/10/2021

Qualified foreign investors will be able to trade commodity futures, commodity options, and stock index options from 1 November.

Enforcement

HK Court Jails Former Convoy, Gransing Executives

17/10/2021

Former Convoy executives conspired to dishonestly arrange for bond placement commissions to be diverted to a company they substantially owned.

AML / KYC

OFAC Issues Sanctions Guidance for Crypto Sector

17/10/2021

OFAC expects virtual currency operators to identify and block IP addresses that originate in sanctioned jurisdictions, including via VPNs.

Fintech / Regtech

BOJ Seeks Simple CBDC Design That Promotes Competition

17/10/2021

While the BOJ still has no plan to issue CBDC, the inability to ensure interoperability with other countries could create issues for Japan.

Fintech / Regtech

ICMA Launches Initiative to Standardise Repo Documentation

17/10/2021

ICMA will work to develop an industry-wide taxonomy and clause library for repo trade documentation to improve efficiency in debt markets.

Korea Eases Loan Restrictions to Accommodate Home Rentals

17/10/2021

New household loans issued to pay for jeonse deposits in Q4 2021 will not count toward the government’s 6 percent loan growth target for the year.

Fintech / Regtech

Tokyo Offers Subsidies to Foreign Firms in Green Finance

17/10/2021

The subsidies are available to foreign asset management and fintech companies working in the field of green finance who wish to start new businesses in Tokyo.

Securities / Derivatives

S. Korea Cabinet Approves Measures to Enhance ABS Market

15/10/2021

The revisions abolish requirements that only allow companies with BB ratings or above to issue ABS. Businesses will also be able to securitise future assets and intellectual property rights.