Fintech / Regtech

S. Korea Preparing Draft Artificial Intelligence Law: Official

19/03/2024

The draft law will define “high-risk AI”, business operator responsibilities, the composition of AI committees, and ethical principles.

BOJ Raises Interest Rates for the First Time in 17 Years

19/03/2024

The BOJ also abolished its yield curve control policy, which it has used since 2016 to cap the yields of 10-year JGBs.

Enforcement

China’s Didi Required to Face Investor Lawsuit Over 2021 IPO

19/03/2024

Besides allowing the investor lawsuit to proceed against Didi, the US court also refused to dismiss claims against banks that helped the company go public.

Enforcement

US SEC Fines Two Investment Advisers for AI Washing

19/03/2024

“Investment advisers should not mislead the public by saying they are using an AI model when they are not,” said the SEC’s Gary Gensler.

Fintech / Regtech

Microsoft, Amazon Suspend Russian Access to Cloud Products

18/03/2024

The move is a response to the EU’s 12th package of Russia sanctions, which prohibits companies from supplying enterprise or design software to companies in Russia.

Securities / Derivatives

Taiwan FSC Conducting Inspections at ETF Issuers – Report

18/03/2024

One of the areas the FSC is scrutinising is the use of online influencers by fund houses to promote their products.

Fintech / Regtech

China UnionPay Launches Project to Optimise Payment Services

18/03/2024

China UnionPay will spend CNY 3 billion on acceptance terminal upgrades, signage placement and publicity in key cities.

Japan to Offer Investment Visas to Venture Capitalists – Report

18/03/2024

A new five-year residency visa will reportedly be available to angel investors and venture capitalists in the next few months.

Enforcement

FSC Korea to Take Hana CEO DLF Case to Supreme Court

18/03/2024

The FSC has decided to appeal a High Court ruling that nullified a reprimand warning imposed on Hana Financial Group CEO Ham Young-joo in 2020.