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Market Infrastructure
Hong Kong Advances Cybersecurity Bill for Critical Infrastructures
12/12/2024
The Bill seeks to impose statutory requirements on designated operators of critical infrastructures to ensure that they take appropriate measures to protect from cyberattacks.

Capital / Liquidity
BCBS Finalises Guidelines on Managing Counterparty Credit Risk
12/12/2024
The guidelines emphasise the importance of counterparty due diligence, good governance and reliable data management.

China Grants AllianzGI Approval to Acquire Stake in Pension Firm
12/12/2024
AllianzGI is the first foreign firm to own a stake in Guomin Pension, which was launched in 2022 by large Chinese FIs to promote the private pension market.

Crypto / Digital Assets
Iran, Russia to Soon Formalise Anti-Sanctions Alliance – Reports
11/12/2024
Both Iran and Russia are also planning to allow the use of cryptocurrencies as a way to circumvent Western sanctions.

Sanctions
China Launches Antitrust Probe into US Chip Giant Nvidia
11/12/2024
The probe is seen as a geopolitical rather than a regulatory or legal action, in retaliation against the US’ latest curbs on China’s chip sector.

Fintech / Regtech
RBI to Form Dedicated Committee to Develop Framework for AI
11/12/2024
The committee of experts shall recommend a “robust, comprehensive, and adaptable AI framework” for the financial sector, the RBI said.

Securities / Derivatives
China to Open More Futures, Options Contracts to Foreign Investors
11/12/2024
More commodity futures and options contracts will be opened up to qualified foreign institutional investors, a senior CSRC official said.

Sanctions
OFAC Sanctions Chinese Cybersecurity Company and Employee
11/12/2024
OFAC said the employee was responsible for deploying malware to 81,000 firewalls owned by thousands of businesses worldwide in April 2020.

Sanctions
Canada Sanctions Chinese, Russian Officials for Human Rights Abuses
11/12/2024
The sanctions were announced to mark International Human Rights Day. China said the sanctions violate international law.

Market Infrastructure
China Declares First Change in Monetary Policy Stance in 14 Years
11/12/2024
The government changed its monetary policy stance from “prudent” to “moderately loose” and signalled that it will increase focus on boosting consumption.
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