Securities / Derivatives

CFTC Extends No-Action Letter for TAIFEX Swaps Clearing

14/09/2023

The six month extension allows US persons to continue clearing swaps on TAIFEX for proprietary trades while a formal CFTC exemption is pending.

ESG / Sustainability

Singapore Launches Largest Ever Equity ETF to Drive Climate Action

14/09/2023

The SGX-listed fund is managed by BlackRock and anchored by Prudential, with additional backing from investors that include Temasek and Singlife.

AML / KYC

Singapore Announces New Initiatives to Support Family Offices

14/09/2023

The initiatives will help new family offices orientate themselves in Singapore and strengthen their financial crime compliance capabilities.

Securities / Derivatives

Industry Bodies Call on SEC to Reassess Custody Rule Proposal

14/09/2023

A letter from 26 trade associations calls on the SEC to re-evaluate the costs and economic impacts of its custody rule proposal.

FSC Korea to Tighten Rules on 50 Year Mortgage Loans

14/09/2023

Banks only started offering 50-year mortgages this year, but household debt grew in August at the fastest pace since February 2020.

Enforcement

Former China Life Chairman Received Suspended Death Sentence

14/09/2023

Wang Bin was sentenced for accepting bribes worth CNY 325 million and illegally concealing CNY 54.2 million in overseas deposits.

Crypto / Digital Assets

HKMA, Central Banks to Beta Test CBDC Interoperability Solution

14/09/2023

New use cases for the solution, developed by Swift, are also being tested in a new sandbox environment by the RBA, BOT, CLS and other institutions.

Capital / Liquidity

Taiwan to Release New Rules on Bank Capital Soon

14/09/2023

The biggest impact for banks is expected to be from the higher risk weighting applied to equity investment positions.

Capital / Liquidity

UK FCA Intensifies Oversight of Bank Risk Assessment

13/09/2023

Risks from customers can affect a bank’s ability to have enough liquidity in challenging markets, the FCA’s Simon Walls said in a letter to bank CEOs.