Crypto / Digital Assets

ICMA Publishes New GMRA Annex Dedicated to Digital Assets

19/08/2024

The Annex was prepared by ICMA, ISLA, and Clifford Chance to provide a standardised framework for documenting repo transactions involving digital assets.

Enforcement

Korean Expands Probe into Unfair Practices in ETF Market

19/08/2024

The FSS is investigating whether asset managers had help from group affiliates to increase the net asset values of ETFs they issued.

Market Infrastructure

ACCC Greenlights Experian Takeover of Rival illion

19/08/2024

The ACCC said the merger will not impact competition in the consumer credit reporting market because of the dominance of market leader Equifax.

Capital / Liquidity

BOK Seeks to Promote Growth in Resident Foreign Currency Deposits

19/08/2024

Foreign currency deposits in Korea only accounted for 5.4% of total deposits at the end of last year, compared to around 20.1 in OECD countries.

AML / KYC

Lithuania Intensifying Crackdown on Sanctions Evasion Activities

19/08/2024

Over 50 investigations relating to sanctions breaches have been opened in Lithuania. Rulings in several cases have already been issued.

Securities / Derivatives

Indonesia to Establish Money Market CCP by End of Year

19/08/2024

Bank Indonesia and eight banks will invest in and help develop the CCP, which will be housed under IDClear, the CCP for the country’s capital market.

Sanctions

UK OFSI Issues Additional Guidance on Russia Sanctions

19/08/2024

Among other things, the new FAQs clarify that non-sanctioned Russian nationals and companies in the UK are allowed to open or maintain UK bank accounts.

Market Infrastructure

Korea to Issue Guidelines to Encourage Greater Use of KOFR

19/08/2024

The BOK and FSC plan to introduce KOFR-linked overnight index swaps and ultimately restrict the use of CD rates in IRS transactions.

Enforcement

US SEC Fines ATS Operator OTC Link for AML Failings

18/08/2024

OTC Link did not file a single SAR over 38 months. Its AML department consisted of only two individuals who together spent just five hours per month reviewing trading alerts.