AML / KYC

US Sanctions Holding Companies Backing Myanmar Military

26/03/2021

The new sanctions target the Myanmar military’s control of significant segments of the country’s economy, which is a vital financial lifeline for the military junta.

Fintech / Regtech

BIS, SWIFT Announce Winners of ISO 20022 Hackathon

25/03/2021

The winners were Atomic Wire, Mojaloop, Virtusa and AWS for solutions that help to enhance cross-border payments using ISO 20022 and APIs.

Market Infrastructure

BOT Issues First Floating Rate Bonds Based on THOR

25/03/2021

Investor interest was stronger than expected, with subscriptions amounting to more than four times the proposed issue size.

Securities / Derivatives

APRA Completes Superannuation Data Transformation Phase One

25/03/2021

Most of the new data will be submitted from September 2021, however trustees will be allowed to defer submission of some less critical data for one year.

Enforcement

CBIRC Fines Citic Bank for Failure to Protect Customer Data

25/03/2021

The penalty is likely related to a complaint by a popular comedian that Citic Bank leaked his personal data on the Internet.

ESG / Sustainability

ICMA Calls for ESG Metrics, Standards for Securitised Assets

25/03/2021

Unless ABS investors have better access to standardised and relevant data, they will be unable to appraise ESG risks and satisfy sustainability objectives.

Securities / Derivatives

CSRC Issues Revised Disclosure Rules for Listed Companies

25/03/2021

The new rules introduce additional safeguards against insider trading and improve the timing of disclosure of major events.

Enforcement

CSRC Bans Haitong Securities from Advisory Work for One Year

25/03/2021

The CSRC said Haitong did not effectively control risk in its bond business dealings, which resulted in Yongcheng Coal’s CNY 1 billion default.

Securities / Derivatives

US SEC Consults on ‘Holding Foreign Companies Accountable’ Rules

25/03/2021

The SEC is seeking public comments on its process for identifying companies that fail to meet the new standards, as well as submission and disclosure requirements.