China Establishes Communication Platform for Belt-and-Road Regulators

12/09/2023

The new communication platform was developed to enhance cross-border regulatory cooperation between countries participating in the “Belt and Road” initiative.

Fintech / Regtech

BIS, CBUAE Jointly Launch Sustainable Finance TechSprint

12/09/2023

The Techsprint is developed by CBUAE, alongside the COP28 Presidency, the Emirates Institute of Finance and the BIS.

Capital / Liquidity

APRA to Amend Counterparty Credit Risk Reporting Standard

11/09/2023

The amendments will remove the applicability of ARS 180.0 to non-significant financial institutions as they are smaller and less complex.

Sanctions

FinCEN Sheds Light on Cases of Export Control Evasion

11/09/2023

SAR filings reveal that a network of China- and Hong Kong-based entities may be providing support to Russia’s military and/or defense industrial base.

Sanctions

EU Issues New Guidance on Preventing Sanctions Circumvention

11/09/2023

If sanctioned items are exported to third countries and then re-exported to Russia, the underlying due diligence inadequacies will be considered sanctions law violations.

NAFMII Issues Directions on Quotation Practices of Currency Brokers

11/09/2023

The notice seeks to standardise currency broker quotations and refine data presentation methods within the interbank market.

Fintech / Regtech

HKMA, PBOC Enter Next Phase of e-CNY Technical Testing

11/09/2023

Hong Kong is expanding its technical testing to include more banks and testing the digital yuan wallet’s top-up function through FPS.

Capital / Liquidity

China Eases Stock Market Investment Rules for Insurers

11/09/2023

The rule changes are aimed at guiding insurers to support the development of the capital market as well as technology innovation.

Sanctions

HSBC to Halt Russia, Belarus Payments for Corporate Clients – Reports

11/09/2023

HSBC reportedly told customers that the sanctions and trade restrictions imposed on Russia and Belarus have made it “increasingly challenging” to operate.