AML / KYC

Canada: FINTRAC Fines Binance for Regulatory Violations

14/05/2024

Binance failed to report almost 6,000 crypto transactions larger than CAD 10,000 over the two years to July 2023.

Enforcement

FINRA Censures and Fines Mizuho’s US Securities Unit

14/05/2024

Mizuho Securities had inaccurate or incomplete information in more than 300,000 institutional customer confirmations over five years.

Securities / Derivatives

China Mulls Tax Exemption for Stock Connect Investors

14/05/2024

The proposal to scrap the dividend tax for mainland Stock Connect investors was submitted in March by the SFC’s Tim Liu.

Capital / Liquidity

ICBC, BOC to Issue First TLAC Bonds This Week

14/05/2024

ICBC and Bank of China will each raise CNY 30 billion through TLAC bonds this week, their first such issuances.

Market Infrastructure

HKEX Announces Plans to Enhance Securities Clearing Arrangement

14/05/2024

The enhancement will allow exchange participants that are non-clearing participants to appoint more than one general clearing participant for the clearing and settlement of stock and options trades.

Enforcement

FSS Korea Finds Misconduct at Real Estate Trust Companies

13/05/2024

The FSS found extortion of real estate developers, and other misconduct. The cases will be referred to investigative agencies.

Enforcement

ICBC, Bank of China Execs Facing Corruption Prosecutions

13/05/2024

New corruption investigations also launched against former officials from the NFRA, CCB and China Development Bank.

Crypto / Digital Assets

BSP Allow PHP Stablecoin Project to Enter Sandbox

13/05/2024

Coins.ph will test a peso-backed stablecoin in payments, trading, hedging and DeFi applications.

Capital / Liquidity

Korea Unveils New Measures to Speed Up PF Loan Restructuring

13/05/2024

The measures will ensure struggling real estate projects enter restructuring rather than delay the resolution of liquidity risks.