ESG / Sustainability

China Issues New Quota Allocation Plan for National Carbon Market

26/10/2024

The move is expected to increase the free allowances power plants can obtain and potentially cool a rally that has sent allowance prices to record levels.

Market Infrastructure

HSBC Hong Kong Becomes Direct Participant of China’s CIPS

26/10/2024

The move will make it easier for overseas companies to trade and invest using the Chinese currency by making yuan payments faster and cheaper.

Crypto / Digital Assets

Japan: JVCEA Becomes Self-Regulatory Body for Stablecoins

26/10/2024

The FSA has recognised the JVCEA as the self-regulatory body for stablecoins and fund transfer businesses, on top of its existing focus on crypto exchanges and crypto-related derivatives trading firms.

Sanctions

DOJ Can Prosecute State-Owned Turkish Bank, Court Rules

25/10/2024

Halkbank was accused in 2019 of helping Iran to evade US sanctions, but the possibility of legal immunity surrounding the case has been ongoing until now.

Securities / Derivatives

NZX Amends Market Maker Eligibility Settings, Effective 22 Nov

25/10/2024

From 22 November, firms will be able to participate as market makers without being direct trading participants of NZX.

ESG / Sustainability

BCBS Seeking Better Understanding of Banks’ Climate Practices

25/10/2024

The BCBS surveyed banks on their practices for collecting data, adapting their IT systems, and using tools like scenario analysis, among other areas.

AML / KYC

GLEIF Opens Mumbai Office to Support LEI Adoption in India

25/10/2024

The new office will help GLEIF build closer engagement with the market to ease and support LEI adoption, while also spreading awareness of the vLEI.

Sanctions

US Finalised $20b Portion of G7 Loan for Ukraine

24/10/2024

The rest of the $50bn loan will be provided by other G7 allies. Earnings from frozen Russian assets will be used for repayments.

China Approves New Insurance Units by BNP Paribas, Prudential

24/10/2024

The NFRA approved the creation of a property insurance joint venture between BNP and Volkswagen Financial Services; and an insurance asset management firm by Prudential Financial.