Fintech / Regtech

Korea Establishes Taskforce to Improve Data Regulations

19/05/2023

The taskforce was established to lay the groundwork for promoting “data-driven innovation” in the financial industry.

Market Infrastructure

China Inaugurates New National Financial Regulator

19/05/2023

The NFRA absorbs the CBIRC in its entirety, and takes over certain functions from the PBOC and CSRC.

Crypto / Digital Assets

NY Fed, MAS Publish Results from Cross-Border Payments Study

19/05/2023

Each simulated payment scenario achieved end-to-end settlement in under thirty seconds on average using wholesale CBDCs.

Securities / Derivatives

SEBI to Tweak Definitiion of ‘Unpublished Price Sensitive Information’

19/05/2023

SEBI’s amendments aim to improve transparency in the capital market and ensure timely and accurate disclosure of material events or information by listed entities.

Enforcement

Deutsche Bank to Settle Jeffrey Epstein Lawsuit for $75m

19/05/2023

The lawsuit brought by an unnamed woman in November claimed Deutsche Bank missed red flags in Epstein’s accounts and chose profit over following the law.

Crypto / Digital Assets

HKMA Launches e-HKD Pilot Programme With 16 Firms

19/05/2023

HSBC, StanChart, BOCHK, CCB, ICBC, Hang Seng Bank, Alipay, Ripple, Visa, Mastercard and ZA Bank are among those involved in HKMA’s pilot.

Enforcement

SFC Fines Brokerage for Negligence During Share Placement

19/05/2023

China On Securities used incorrect prices in contract notes and transferred shares to placees without first requiring payment.

CSRC, PBOC Reduce Budget Allocations for Staff Salaries

19/05/2023

The changes are part of a drive to reduce income disparity as well as a broader overhaul of the financial regulatory system announced in March.

Sanctions

Top EU Official Concerned by Russian Oil Flowing into Europe

18/05/2023

India is buying heavily discounted crude oil from Russia and selling full-priced refined products into Europe. Josep Borrell said the EU must act.