AML / KYC

Basel AML Index: AML/CFT Systems Have Become Less Effective

14/11/2023

The 2023 Basel AML Index highlights a drop in the effectiveness of AML/CFT systems and inadequate compliance globally with the FATF standards for virtual assets.

Securities / Derivatives

CSRC Revises Regulations Governing Inspections of IPO Applicants

14/11/2023

The revised regulations aim to strengthen the supervision of information disclosure of IPO companies, the regulator said.

ESG / Sustainability

Japan Launches ESG Information Portal, “JPX ESG Link”

14/11/2023

The platform collects direct links to the ESG-related information disclosed by TSE-listed companies and enables users to browse this information free of charge.

Capital / Liquidity

BSP Approves Rules for New Intraday Settlement Facility

13/11/2023

The facility will allow eligible participants to borrow funds from the BSP to ensure timely execution of RTGS settlements.

Enforcement

China Imposes Industry Wide Obligations to Prevent Crime Within Banks, Insurers

13/11/2023

New NFRA notice requires the establishment of internal controls and governance structures specifically designed to prevent criminal cases involving banks and insurers.

AML / KYC

Myanmar Receives Rating Upgrade for FATF Recommendation 14

13/11/2023

Myanmar made “minimal progress” but was re-rated on Recommendation 14 for its revised regulations for remittance businesses.

Crypto / Digital Assets

Singapore Crypto Lender Hodlnaut to Enter Into Liquidation

13/11/2023

Creditors rejected Hodlnaut’s restructuring plan, believing a liquidation would maximise the distribution of the remaining assets.

Market Infrastructure

Korea Considers Extending Short Selling Ban to Market Makers

13/11/2023

The FSC will first carefully examine the impacts such a move would have on investor protection and market development.

Enforcement

Former China Citic Bank President Gets Suspended Death Sentence

13/11/2023

A former China Merchants Bank president also pleaded guilty to bribery charges last week, and a new probe was launched into a former ICBC vice president.