Securities / Derivatives

CSRC Consults on Rules to Enhance Independent Director System

16/04/2023

A qualification system, code of professional ethics, and information database for independent directors of listed companies will be established.

Enforcement

SocGen Agrees to $105m Euribor Rigging Settlement

16/04/2023

If approved by the court, the settlement would mean investors have won USD 651.5 million in Euribor-rigging settlements with seven banks.

ACCC Proposes Reforms to Australia’s Merger Laws

16/04/2023

Current laws do not require merger parties to notify the ACCC of planned mergers, or to wait for clearance before they complete the merger.

Enforcement

Japan FTC Cautions Mizuho Securities Over IPO Price-setting

16/04/2023

Mizuho Securities, as lead underwriter, set the issue prices of two companies lower than the companies were seeking. Both more than doubled in value on their IPO.

Sanctions

US Commerce Dept Adds 12 Chinese Entities to Entity List

15/04/2023

The entities allegedly acquired or attempted to acquire US-origin items in support of Russia’s military effort.

Securities / Derivatives

Korea to Develop Fund Manager Guidance on Exercise of Voting Rights

15/04/2023

There is currently insufficient guidance on the exercise of voting rights, particularly for issues involving corporate governance and ESG matters, the FSS said.

Crypto / Digital Assets

Japan Policymaking Body Approves New Web3 White Paper

15/04/2023

The paper covers crypto taxation, a DAO law, token screening, stablecoin registration, and Web3 accounting standards.

AML / KYC

OFAC Sanctions Chinese Entities in Fentanyl Supply Chain

14/04/2023

The Chinese individuals and companies were allegedly involved in supplying drug cartels with ingredients to make opioids for sale in the US.

AML / KYC

Taiwan Cabinet Approves Legislation to Bolster Anti-Fraud Effort

14/04/2023

The amendments to three bills include higher penalties for cases of personal data leakage where negligence is found.