Enforcement

UK Jails Members of Chinese Money Laundering Group

31/08/2024

A 12-year jail sentence was handed to the head of the group, which sold British pounds to UK university students to circumvent China’s foreign currency controls.

Securities / Derivatives

Korea to Set New Fee Distribution Standards for Securities Lending

31/08/2024

Securities firms will have to transparently disclose their fee structures to investors and link fee distribution to the revenues generated from securities lending.

Crypto / Digital Assets

Nasdaq Seeks Regulatory Approval to Launch Bitcoin Options

31/08/2024

Nasdaq said the options will enable investors to hedge their cryptocurrency investments. NYSE also applied for a similar approval earlier this year.

Fintech / Regtech

China NFRA Proposes Tighter Rules for Microfinance Industry

31/08/2024

A ¥200,000 single-customer limit is set for online loans taken by individuals, and a ¥10mn per household limit for loans by small and micro enterprises and their owners.

ESG / Sustainability

China Issues New Guidelines to Promote Green Finance

31/08/2024

The guidelines call on financial institutions to support eligible green and low-carbon companies along the Yangtze River Economic Belt in raising capital.

Securities / Derivatives

Taiwan Allows Foreign Investors to Designate Multiple Custodians

31/08/2024

Foreign institutional investors are now allowed to appoint up to four custodians to handle their dealings in Taiwan securities markets.

Securities / Derivatives

US SEC Adopts New Reporting Rules for Investment Funds

31/08/2024

Mutual funds and ETFs will have to report portfolio holdings monthly rather than quarterly. Swing pricing rules weren’t included in the amendments.

Capital / Liquidity

UK to Postpone Basel III Implementation to Jan 2026

30/08/2024

The general election in mid-May left UK regulators unable to publish their rules in time for the original 1 July 2025 timeline.

Enforcement

CFTC Penalises Nasdaq Futures Over False Disclosures

30/08/2024

Nasdaq Futures, which operated an energy commodity futures market from 2015-2018, did not fully disclose details of an incentive programme.