Enforcement

South Korea Seizes Assets from Crypto Lender Delio

25/07/2023

Prosecutors and the FSC seized “all company and customer assets, including Delio’s cold wallets and ledgers”.

Capital / Liquidity

Ukraine Government Nationalises Russian-owned Sense Bank

25/07/2023

A bill was signed into law in June that allows Ukraine’s government to nationalise banks owned by sanctioned Russian actors

Crypto / Digital Assets

Banque de France Releases New Findings from CBDC Experiments

25/07/2023

Banque de France has determined that wholesale CBDC would improve cross-border payments, settlement finality, and security for a “vast range of financial assets”.

Capital / Liquidity

UBS Penalised $388m Over Credit Suisse’s Archegos Failings

25/07/2023

US, UK, and Swiss regulators took coordinated action to punish the “unsafe and unsound” risk management practices at Credit Suisse.

Securities / Derivatives

Enhancements to Wealth Connect, Bond Connect Coming ‘Soon’

25/07/2023

Regulators to include more products in Wealth Connect and southbound Bond Connect, while allowing more investors to participate.

Market Infrastructure

China Issues Draft Rules to Boost Cross-Border Trade and Investment

25/07/2023

China’s foreign exchange regulator, SAFE, proposes draft rules to advance cross-border trade, calling for public input until 2 August 2023.

ESG / Sustainability

IFRS Publishes Comparative Analysis of IFRS S2 and TCFD

25/07/2023

The comparative analysis highlights that the requirements outlined in IFRS S2 are consistent with the TCFD recommendations.

AML / KYC

Disgraced Former CSRC Official Has a New Job at PBOC – Report

25/07/2023

Former CSRC chief Liu Shiyu was previously punished for using his position and power to seek personal gains for others.

Securities / Derivatives

CSRC Issues Rules on Short-term Stock Trading by Company Insiders

25/07/2023

The rules apply to major shareholders, directors, supervisors, and senior managers of listed companies, as well as their spouses, parents, and children.