Market Infrastructure

China State Council Unveils 24 Measures to Lure Foreign Firms

14/08/2023

Measures include commitment to explore enhanced mechanism for cross-border data flows, and a “green channel” for foreign firms to carry out security assessments for the export of data.

Sanctions

Myanmar Allows Thai Baht to be in International Payments

14/08/2023

Myanmar’s Military Council has designated the Thai Baht as a currency for both international payments and account clearing.

Securities / Derivatives

Shanghai INE to Launch New Container Freight Index Futures Contract

14/08/2023

Shanghai International Energy Exchange is launching the new futures contract to help firms hedge against fluctuations in container freight prices.

Securities / Derivatives

China Amends Index Fund Rules to Support ‘Technological Self-reliance’

14/08/2023

An index must only be in operation for three months before it can be used in the development of a fund product, compared to six months previously.

Enforcement

Taiwan FSC Fines CTBC Units for Governance Failures

14/08/2023

CTBC Financial was regularly inviting a major shareholder to attend group meetings and executive dinners, though he was not an authorised person.

Fintech / Regtech

RBI Awards AI-based SupTech Contract to McKinsey, Accenture

14/08/2023

The RBI invited expressions of interest last September. The $10mn contract has now been awarded to McKinsey and Accenture.

Enforcement

Korea: Bank CEOs to Face Possible Liability for Internal Control Lapses

14/08/2023

The FSC is working directly with lawmakers to fast-track a bill that would allow it to punish bank CEOs for embezzlement and other crimes that occur under their watch.

DBS Completes Acquisition of Citi Consumer Businesses in Taiwan

14/08/2023

DBS chief Piyush Gupta said the integration accelerates the bank’s consumer business growth in Taiwan by at least ten years.

AML / KYC

SEBI Streamlines KYC Process for Securities Market Onboarding

14/08/2023

SEBI directs KRAs to verify client information so that they gain portability, and clients to skip repetitive KYC steps with different intermediaries.