Fintech / Regtech

Korea FSS Issues Guidance on Mitigating Technology Risks

09/11/2023

The guidelines are intended to improve the level of IT internal control in the financial industry and improve the resilience of individual firms.

Securities / Derivatives

China Regulators Have Upbeat Message for Market Participants

09/11/2023

China will continue opening up its markets and supporting vulnerable parts of the economy. Two new foreign-funded insurance brokerage companies were approved this week.

Market Infrastructure

DTCC Opens Access to OTC Derivatives Market Data

09/11/2023

“OTC Direct Connect” allows market participants to access OTC derivatives transaction data that are reportable in the US and Canada.

Market Infrastructure

US Adds Vietnam to FX Monitoring List, Removes Korea

09/11/2023

US Treasury is monitoring the currency practices and macroeconomic policies of six trading partners, including China, Malaysia, Singapore, and Taiwan.

Crypto / Digital Assets

HSBC to Launch Custody Service for Tokenised Securities

09/11/2023

The new digital assets custody service will launch in 2024, using custody infrastructure provided by Ripple-owned Metaco.

Sanctions

UK Targets Russian Gold and Oil as EU Preps New Sanctions Package

08/11/2023

UK government announced asset freezes on 29 individuals and entities in Russia’s gold, oil, and strategic sectors.

Fintech / Regtech

DBS to Strengthen In-House Software Engineering Team

08/11/2023

DBS chief Piyush Gupta said deeper engineering talent is needed in-house to troubleshoot software bugs such as those that caused this year’s service disruptions.

AML / KYC

ASIC Launches New and Improved Investor Alert List

08/11/2023

The list includes entities that are offering services to Australians without authorisation, as well as “impostor” entities and websites.

AML / KYC

FinCEN Finalises Rule on Use of FinCEN Identifiers in BOI Reporting

08/11/2023

Beneficial owners of numerous reporting companies would be able to use FinCEN identifiers to simplify the reporting process and for data security purposes.