Capital / Liquidity

Korea FSS Directs Ten Savings Banks to Increase Capital

18/04/2024

Some 15 savings banks in Korea failed to meet their minimum capital adequacy ratios in Q1, compared to just one at the end of 2023.

AML / KYC

China Set to Consider Draft Revision to AML Law

18/04/2024

The revision will expand the scope of money laundering predicate crimes, raise the penalties for offences, and expand the scope of the law to cover more non-bank entities.

Enforcement

Former PBOC Deputy Governor Pleads Guilty for Accepting Bribes

18/04/2024

Fan Yifei abused his positions and took bribes from 1993 to 2022, while at China Construction Bank, China Investment Corp, Bank of Shanghai and the PBOC.

Australia: Misconduct Compensation Scheme Starts Processing Claims

18/04/2024

The Compensation Scheme of Last Resort provides compensation to eligible consumers who have an unpaid determination from AFCA.

Market Infrastructure

Japan, Korea, US Finance Ministers Hold First Trilateral Meeting

18/04/2024

The ministers agreed to “consult closely” on FX markets and to cooperate on financial stability and the use of sanctions.

Sanctions

US Treasury Terminates Zimbabwe Sanctions Regulations

18/04/2024

The Zimbabwe sanctions programme is terminated and replaced with Magnitsky sanctions against 11 individuals and three entities.

Enforcement

US SEC Blocks Staff Messaging on Mobile Devices

17/04/2024

The SEC is restricting access to SMS, iMessage, and third-party messaging applications on employees’ work mobile phones.

Securities / Derivatives

FSB Consults on Non-bank Margin and Collateral Calls

17/04/2024

FSB recommendations seek to reduce procyclical behaviour of non-bank market participants in response to margin and collateral calls.

Fintech / Regtech

ISDA Extends Digital Regulatory Reporting Initiative

17/04/2024

The initiative is being extended to cover new derivatives reporting rules in the UK, Australia and Singapore.