Enforcement

Korea FSS Takes Action Against BNK Financial Group, Busan Bank

26/07/2024

The FSS found that executives and employees of both companies manipulated BNK Financial’s stock price when going through the process of a paid-in capital increase.

Sanctions

Russia Progresses Bill to Allow Foreign Banks to Open Branches

26/07/2024

The bill would enable foreign banks to open branches in Russia which they could then use to settle cross-border payments.

Enforcement

Korea FSS Considers New Rules to Prevent Mis-selling

25/07/2024

Measures being considered would require banks to separate their sales channels for high-risk products from deposits and installment savings counters.

China Urges “High Quality” Firms to Use Foreign Debt Financing

25/07/2024

Companies that qualify as “high-quality enterprises” and apply for foreign debt quotas will have their applications expedited.

Enforcement

China Establishes Anti-Corruption Body for Financial Sector

25/07/2024

The CCDI announced the establishment of a dedicated disciplinary body to tackle corruption in the financial sector.

Sanctions

UniCredit Drops Part of Appeal Against ECB’s Russia Exit Orders

25/07/2024

UniCredit said it has received “sufficient clarity” from the ECB on certain parts of its application to the GCEU.

Sanctions

Australia Imposes First Sanctions Against Israelis in West Bank

25/07/2024

Seven Israelis and a youth group were sanctioned for their involvement in violent attacks against Palestinian communities.

Securities / Derivatives

Korea Exchange Considers Japan-Style Market Restructuring

25/07/2024

A restructuring would minimise overlaps between the KOSPI and KOSDAQ markets. The role of the KONEX market will also be reconsidered.

Sanctions

ECB to Develop Framework for Geopolitical Risk Assessments

25/07/2024

The ECB is working to develop a framework that it can use to deal with the impacts of geopolitical risks such as sanctions on EU banks.