Capital / Liquidity

HK Banks Stop Offering Mortgage Loans for Speculation

07/03/2024

Many banks have stopped providing mortgages for confirmor transactions, due to signs that speculative interest is reemerging in the property market.

AML / KYC

FCA Gives Firms 6 Months to Address Financial Crime Concerns

07/03/2024

The regulator found controls that haven’t kept pace with business growth, firms that aren’t properly resourced, and failures to properly assess risks.

Market Infrastructure

Japan to Permanently Cease Euroyen TIBOR on 30 December

07/03/2024

ISDA confirmed that the announcement from JBA TIBOR Administration “constitutes an index cessation event”.

Fintech / Regtech

BSP to Enhance Reporting Rules for Money Services Businesses

06/03/2024

MSBs would also need to notify the BSP within five days of any event which may have a significant negative impact on their business or reputation.

Securities / Derivatives

Bursa Malaysia to Launch New Soyoil Futures on 18 March

06/03/2024

The new futures contract is made possible by a licensing agreement signed with the Dalian Commodity Exchange last year.

Sanctions

OFAC Sanctions Members of Spyware Consortium

06/03/2024

The consortium’s spyware and surveillance tools were used to target US officials, journalists, and policy experts.

Securities / Derivatives

China: Major Insurers Ready to Invest in Stock Market

06/03/2024

China Life Insurance and New China Life Insurance have finished setting up a new fund that will be used to invest in and support the stock market.

Securities / Derivatives

CSRC Grants New Approval to Morgan Stanley Securities Unit

06/03/2024

The approval allows Morgan Stanley Securities (China) to engage in securities investment consulting and proprietary securities business.

Sanctions

BRICS Nations to Create Blockchain-based Payment System

05/03/2024

The move aimed at increasing the role of the BRICS in the international monetary system and reducing reliance on US dollars.