AML / KYC

UK to Designate Wagner Group as Terrorist Organisation

07/09/2023

The draft order to proscribe Wagner Group is expected to pass in Parliament and come into force on 13 September.

Enforcement

ASIC Directs Retail OTC Issuers to Improve DDO Compliance

07/09/2023

ASIC said it will punish issuers of CFDs and other high-risk products for failure to comply with their design and distribution obligations.

Capital / Liquidity

HK Investors Prepare Legal Action Over Credit Suisse AT1 Bonds

07/09/2023

Hong Kong investors will claim the wipeout of Credit Suisse AT1 bonds was at odds with a bilateral investment treaty between Hong Kong and Switzerland.

Securities / Derivatives

Philippines Will Implement Short Selling Rules, Says Regulator

07/09/2023

The SEC approved guidelines on short selling as early as 2018. It now says it is pushing to align its rules with major Asian markets.

ESG / Sustainability

RBNZ, FMA Call on Regulated Entities to Improve Governance Practices

06/09/2023

A joint cross-sector thematic review identified some good governance practices, but also areas where improvement is needed.

Capital / Liquidity

FSC Korea Proposes Formal Adoption of Large Exposure Limit

06/09/2023

The large exposure limit was implemented in March 2019 through administrative guidance, but the formal regulatory process was postponed until now due to Covid-19.

Securities / Derivatives

APRA Review Finds Gaps in Super Fund Valuation Practices

05/09/2023

The review was conducted in late 2022, ahead of new investment governance standards taking effect in January.

Fintech / Regtech

RBI Permits Banks to Use UPI With Credit Lines

05/09/2023

Scheduled commercial banks can now transfer funds to and from credit lines through the UPI system.

Market Infrastructure

NZX Adds Financial Recovery Tools to Operational Rules

04/09/2023

The amendments will take effect on 1 December, introducing five recovery tools to help manage a potential default by a market participant.