Market Infrastructure

China Further Opens Up Foreign Investment in Key Sectors

25/08/2024

China’s 2024 negative list removes restrictions in the manufacturing, telecommunications, education, and healthcare sectors.

AML / KYC

TD Bank Provisions Additional $2.6b for Expected AML Penalties

25/08/2024

TD Bank said a global resolution of investigations by prudential regulators, FinCEN and the DOJ is expected by year-end.

AML / KYC

Korean Financial Institutions Launch Credit Transaction Blocking Service

24/08/2024

Consumers can register for a financial system-wide block on credit transactions to protect their accounts from being used for fraudulent loans.

US Federal Court Strikes Down FTC Rule on Non-Competes

24/08/2024

The court found that the FTC exceeded its statutory authority in issuing the rule, which would have banned non-competes from 4 September.

Capital / Liquidity

Korea Confirms Plans to Tighten Lending Rules in September

23/08/2024

Starting in September, the second phase of the ‘Stressed DSR’ rules will apply, and lenders will be required to calculate the DSR for all new household loans.

Crypto / Digital Assets

SFC Finds ‘Unsatisfactory Practices’ at Some Crypto Firms

23/08/2024

The SFC found an overreliance on just a few executives for custody and inadequate safeguards against cybercrime risks.

AML / KYC

Binance and Macau Police Launch Campaign to Combat Scams

23/08/2024

Binance has partnered with the Macau Judiciary Police to launch an anti-scam campaign, aiming to protect users from the risk of fraud in the digital space.

Securities / Derivatives

US SEC Fines Transfer Agent for Failure to Guard Against Cyber Fraud

23/08/2024

The transfer agent’s failures led to more than $6.6mn in losses from two separate cyber intrusions, one of which involved Hong Kong bank accounts.

ESG / Sustainability

Taiwan FSC to Simplify Requirements for FIs’ Annual Reports

22/08/2024

The proposed changes aim to simplify the process of annual report preparation and promote gender diversity among the boards of financial institutions.