Securities / Derivatives

IOSCO Propose Good Practices for Leveraged Loan, CLO Markets

15/09/2023

IOSCO says a “prolonged borrower-friendly environment” has given rise to vulnerabilities in leveraged loan and CLO markets.

Securities / Derivatives

IOSCO Warns of Emerging Risks in Private Finance Markets

15/09/2023

IOSCO says private finance markets are “inherently opaque”, and that connections with other parts of the financial system may allow risks to spill into public markets.

Sanctions

Gibson Dunn’s David A. Wolber Discusses Compliance Challenges with Sanctions

15/09/2023

David A. Wolber, Of Counsel at Gibson Dunn, spoke at Regulation Asia’s Fraud & Financial Crime Asia 2023 event on 13 July. At the sidelines of the event, he discussed how Singaporean banks and companies face increasing compliance challenges in the sanctions space, citing a couple of reasons. He also outlined steps to avoid violating sanctions.

Capital / Liquidity

PBOC Announces Second RRR Cut for Banks This Year

15/09/2023

The move lowers the weighted average RRR for banks to around 7.4 percent, compared to more than 15 percent in 2018.

Sanctions

US Government Unveils 150 New Russia-related Sanctions

15/09/2023

The sanctions include two more Russia-based banks along with several Russia-based wealth management consulting, auditing, and investment firms.

Enforcement

RHB Investment Bank Fined, Reprimanded for Sponsor Failures

15/09/2023

RHB failed to conduct proper due diligence on an ACE Market listing applicant and to ensure submissions to Bursa Malaysia were complete and accurate.

Securities / Derivatives

China to Provide Guarantees on Private Enterprise Bonds

15/09/2023

China Securities Finance indicated it would work to provide more credit enhancement support to private enterprises to support bond financing.

Crypto / Digital Assets

US SEC Settles Second NFT-related Enforcement Action

14/09/2023

Animated web series creator will pay $1mn to settle SEC claims that it conducted an unregistered offering of crypto asset securities. Two commissioners dissented.

Enforcement

US Court Sentences Co-Founder of “OneCoin” Fraud to 20 Years

14/09/2023

OneCoin was a fraudulent cryptocurrency that was sold through a pyramid scheme to millions of people from 2014-2016, resulting in $4bn in worldwide losses.