ESG / Sustainability

Taiwan Sets Requirements on Disclosure of Director Remuneration

13/12/2023

Financial holding companies, banks, securities firms and insurers will have to disclose director remuneration under specified conditions.

Enforcement

China NFRA to Apply More Discretion in Penalty Decisions

13/12/2023

The NFRA says it will strictly abide by the principles of legality, proportionality, and due process when handing out penalties to banks and insurers.

Market Infrastructure

PBOC Establishes Yuan Clearing Arrangement With Serbia

13/12/2023

Agreements to establish yuan clearing arrangements have also recently been signed with Cambodia, Brazil, Kazakhstan, Laos and Pakistan.

Taiwan FSC Completes Review to Identify Outdated Regulations

13/12/2023

Nearly 9,000 letters and orders will be removed as of 20 December. Four new measures will be adopted in 2024 to improve the regulatory environment.

Capital / Liquidity

UK Releases Policy Statement on Basel III Implementation

13/12/2023

The statement covers the standards for market risk, CVA risk, counterparty credit risk, and operational risk. A second release in Q2 2024 will cover the remaining elements.

AML / KYC

AUSTRAC Announces Regulatory Priorities for 2024

13/12/2023

AUSTRAC will scrutinise the banking, gambling and remittance sectors, as well as crypto firms, payment platforms and non-bank lenders.

Securities / Derivatives

CSRC Grants StanChart Approval to Operate Securities Business

13/12/2023

Standard Chartered Securities (China) is authorised to conduct securities brokerage, securities dealing, securities underwriting, and securities asset management business.

Crypto / Digital Assets

NYAG Announces $22m Settlement With Crypto Firm KuCoin

13/12/2023

KuCoin is required to refund more than USD 16.7 million to New York investors and pay more than USD 5.3 million to the state.

Capital / Liquidity

BCBS Consults on Targeted Adjustments to IRRBB Standard

13/12/2023

The BCBS proposes adjustments to the calibration of the interest rate shocks in the IRRBB standard and the methodology used to calculate the shocks.