Fintech / Regtech

OJK Launches AI Code of Ethics Guidelines for Fintech Industry

25/11/2023

The guidelines are intended to serve as a reference for fintech associations to establish their code of conduct and optimise the use of AI in the fintech industry.

Chinese Regulators Pledge Renewed Support for Tech Industry

25/11/2023

Financial institutions were directed to improve their services and financing support for technology firms.

Capital / Liquidity

China Considers Allowing Unsecured Lending to Developers

24/11/2023

Regulators are reportedly considering allowing banks to issue unsecured working capital loans to some developers for the first time.

Securities / Derivatives

Mizuho Seeking Licence to Establish China Securities Unit

24/11/2023

If approved, Mizuho will become the third Japanese firm after Nomura and Daiwa to establish a securities company in China.

Crypto / Digital Assets

MAS to Phase in New Crypto Rules Starting Mid-2024

23/11/2023

The rules cover business conduct, technology risks, and consumer access. Crypto assets can be counted towards accredited investor net worth calculations.

Enforcement

EU Commission Fines Rabobank for Participating in Bond Trading Cartel

23/11/2023

Deutsche Bank also participated in the cartel but was not fined because it revealed the cartel to the Commission under its leniency programme.

Enforcement

ASIC Announces Enforcement Priorities for 2024

23/11/2023

ASIC added new priorities targeting super funds and market integrity, and emphases a continued focus on greenwashing.

Crypto / Digital Assets

Korea Reveals New Details on CBDC Pilot Programme

23/11/2023

The plans were announced during a visit to Korea by Agustin Carstens, general manager of the BIS, which is providing technical support for Korea’s CBDC testing.

Enforcement

US Jury Convicts Two Individuals for Attempting to Export Iranian Oil to China

23/11/2023

The individuals were accused of conspiring to violate US sanctions through a scheme to sell Iranian-origin petroleum to a Chinese buyer via shell companies.