Sanctions

RBI Approves 34 Russian Vostro Accounts at Indian Banks

03/08/2023

Special Rupee Vostro Accounts were opened by Russian banks at 14 Indian commercial banks, based on guidelines issued by the RBI in July 2022.

Market Infrastructure

CUSIP-Based Entity Identifier Launched for Syndicated Loan Market

03/08/2023

The new 10-character CEI code will enable transparency and system interoperability across the syndicated corporate loan asset class, globally.

AML / KYC

FSS Korea Confirms Embezzlement Case at BNK Kyongnam Bank

03/08/2023

A BNK Kyongnam Bank employee was found to have embezzled $44mn over 15 years by fabricating loan documents and using family accounts.

Securities / Derivatives

CSRC Issues Updated Market Maker Rules for Beijing Exchange

03/08/2023

The new draft also aims to increase alignment between the rules for the Beijing Stock Exchange and Shanghai’s STAR Market. The net capital requirement is cut in half.

Fintech / Regtech

MAS Says Risk of ‘Herding’ from AI Use is Low

02/08/2023

MAS chairman Lawrence Wong addressed queries on the impact of AI on trading platforms in financial markets.

Enforcement

RBI Fines State-run Energy Firms for Reporting Foreign Investments Late

02/08/2023

The RBI fined the four companies a combined $240mn for their delay in reporting overseas investments.

Fintech / Regtech

UK to Develop New Data Standards for Regulatory Reporting

02/08/2023

The BOE and FCA have endorsed key recommendations that will transform regulatory data collections in the UK.

Securities / Derivatives

HKEX Will No Longer Single Out ‘China Risk’ in Issuer Disclosures

02/08/2023

HKEX removed specific requirements for issuers to disclose China-related risks, to align its requirements across all overseas-incorporated companies.

Chinese Regulators Ask Banks to Postpone Dollar Purchases – Report

02/08/2023

The window guidance is the latest in a series of steps taken by Chinese authorities this year to bolster the yuan.