AML / KYC

OFAC Sanctions Two Chinese Nationals Over Stolen Cryptocurrency

03/03/2020

OFAC has linked two Chinese nationals to the 2018 theft of $250mn in cryptocurrency by the Lazarus Group, a US-designated North Korean cybercrime group.

Market Infrastructure

Covid-19 Presents Greatest Economic Danger Since GFC: OECD

03/03/2020

The OECD recommends providing banks with liquidity to allow them to help companies with cash-flow problems, and to consider reducing reserve requirements.

Market Infrastructure

SWIFT Reports Near Doubling of Year-on-year gpi Traffic

03/03/2020

Nearly two-thirds of all payments traffic on SWIFT is now sent via gpi, with the majority of transactions credited to end beneficiaries within 30 minutes or less.

Market Infrastructure

BNM Updates Regulatory Framework for Digital Banks in New Draft

03/03/2020

The new exposure draft incorporates a simplified regulatory framework for digital banks applicable during the initial three to five years of operations.

Securities / Derivatives

S. Korea Set to Introduce Trade Repository in October

03/03/2020

Legislative revisions have been approved establishing statutory provisions for a trade repository, and penalties up to 100mn won for failures to report OTC derivatives transaction information.

SEBI Lowers Net Worth Requirement for Gift City Investment Advisers

03/03/2020

The net worth requirement has been lowered to $700,000 from $1.5mn previously following feedback on SEBI’s January guidelines for Gift City investment advisers.

Securities / Derivatives

S. Korea Mulls Hong Kong-Style Short Selling Rules

03/03/2020

The FSC and FSS are considering restricting short-selling of listed companies based on market cap in a bid to level the playing field for retail investors.

Securities / Derivatives

Indonesia Halts Short Selling, Cuts Reserve Requirements

03/03/2020

Short selling was halted to stop panic selling after the first two cases of Covid-19 were detected in the country. Separately, the central bank has introduced 5 new policy measures.

Securities / Derivatives

China to Launch Registration-based System for Bond Issuance

02/03/2020

Issuers of enterprise and corporate bonds will have to meet higher disclosure requirements under the new registration-based system, while the role of intermediaries is also strengthened.