Enforcement

Korea: FSS Uncovers More Embezzled Funds at BNK Kyongnam Bank

21/09/2023

The FSS determined that around $223mn was embezzled by a bank employee, more than five times the amount initially reported.

RBI Expands Scope of Data Quality Benchmarking Requirements

21/09/2023

Credit information companies directed to establish data quality index for commercial and microfinance segments.

New Zealand Issues Guidance on Helping Vulnerable Customers

21/09/2023

Financial service providers should be “proactive” about identifying and helping customers who are experiencing, or likely to experience, financial difficulty.

PBOC Relaxes Restrictions on Gold Imports – Report

21/09/2023

The PBOC has relaxed curbs on gold imports that were imposed on banks in August to defend the yuan.

HK Cyberport Data Breach Prompts Discussions of New Cybersecurity Law

21/09/2023

An estimated 400 gigabytes of data was compromised, including the personal information of Cyberport staff and several startups.

Capital / Liquidity

FSB Proposes Toolbox of Financial Resources and Tools for CCP Resolution

21/09/2023

New consultation report proposes a “toolbox approach” as a global standard for CCP financial resources and tools for resolution.

Market Infrastructure

Tokyo Bourse Announces Decision to Extends Trading Hours

21/09/2023

The TSE will extend the closing time from 3pm  to 3.30pm, coinciding with the launch of Arrowhead 4.0 on 5 November 2024.

Capital / Liquidity

MAS Finalises Notice for Implement Basel III Reforms

21/09/2023

The revised MAS Notice 637 will be effective from 1 July 2024. An additional year is provided for compliance with revised market risk and CVA standards.

Securities / Derivatives

US SEC Adopts Amendments to Fund Naming Rules

21/09/2023

The new rules will help ensure that a fund’s portfolio aligns with a fund’s name and help to better protect investors, said SEC chair Gary Gensler.