Market Infrastructure

Indonesia, Malaysia, Thailand to Boost Cooperation on Local Currency Use

25/08/2023

Bank Indonesia, Bank Negara Malaysia, and Bank of Thailand will strengthen cooperation to promote the use of local currencies in bilateral transactions.

Enforcement

US Banks Agree to Settle Stock Lending Lawsuit for $500m

25/08/2023

Goldman Sachs, JPMorgan Chase, Morgan Stanley and UBS denied wrongdoing but agreed to settle the lawsuit to avoid further litigation.

Sanctions

US Commerce Dept Removes 27 Chinese Companies from “Unverified List”

25/08/2023

The Unverified List is part of the US Export Administration Regulations. A company may be placed on the list when certain information about it cannot be verified.

AML / KYC

Malaysia Considers Lawsuit Against Goldman Sachs Over 1MDB

25/08/2023

Prime minister Anwar Ibrahim said as much as 68% of the 1MDB losses have been recovered, but that his administration is considering ways to recover more from Goldman.

Securities / Derivatives

Allianz, Blackstone Receive New Regulatory Approvals in China

24/08/2023

Allianz Global Investors received approval to set up an onshore fund management company. Blackstone received a QDLP licence.

Sanctions

OFAC Expands Sanctions on Jet Fuel for Myanmar Military

24/08/2023

One of the sanctioned individuals helps Myanmar’s military regime procure jet fuel through Singapore-based holding companies.

Fintech / Regtech

China Allows New Accounting Treatment of Data Resources

24/08/2023

Under the new rules, companies will be able to classify their data as intangible assets. Data held for sale can be recognised as inventories.

Enforcement

UK Energy Regulator Fines Morgan Stanley Over WhatsApp Use

24/08/2023

This is the first-ever fine issued in the UK for failures to record and retain electronic communications relating to energy market trades.

Capital / Liquidity

CPMI-IOSCO Takes Stock of CCP Practices for Addressing Non-default Losses

24/08/2023

CPMI and IOSCO intend to publicly consult on further guidance for CCPs on addressing NDLs arising from scenarios like system outages and cyber attacks.