Capital / Liquidity

US Lawmaker Calls for Reversal of FSOC Plans for Nonbank FIs

14/06/2023

Patrick McHenry said the FSOC’s plans to designate non-bank financial entities as systemically important based on size rather than activities will be problematic.

Crypto / Digital Assets

US Federal Judge Declines to Freeze Binance.US Assets

14/06/2023

The federal judge overseeing the case ordered the SEC and Binance.US to negotiate other restrictions instead.

Crypto / Digital Assets

MAS Grants Crypto Bank Sygnum In-Principle Licence Approval

14/06/2023

Sygnum said it would expand its Singapore offering to include regulated crypto brokerage services, available to accredited and institutional investors.

India, Myanmar to Start Using Rupee for Trade Settlements “Soon”

13/06/2023

The RBI has so far authorised Punjab National Bank to open a special rupee vostro account for foreign trade settlements with Myanmar.

Fintech / Regtech

India in Talks to Extend UPI’s Reach to Gulf Countries 

13/06/2023

India’s NPCI, with support from the RBI, is in talks to establish bank-to-bank transfer systems for cross-border remittances to Bahrain and Saudi Arabia.

Market Infrastructure

ASIC Invites Regulated Entities to Assess Cyber Resilience

13/06/2023

ASIC’s cyber pulse survey will measure entities’ current cyber security and controls, governance arrangements, and incident preparedness.

Securities / Derivatives

CSRC Proposes New Rules for Fund Investment Advisory Industry

13/06/2023

The draft rules seek to strengthen supervision and control of fund investment consulting businesses, and improve services for investors.

Enforcement

Taiwan FSC Raise Cap on Whistleblower Rewards by 25pc

13/06/2023

Whistleblowers can be paid up to TWD 5 million (USD 161,000) for reporting illegality, financial misconduct and fraud.

AML / KYC

JPMorgan Agrees to Settle Epstein Lawsuit for $290m

13/06/2023

JPMorgan will not have to admit liability, but will have to issue a public statement saying it regrets its association with Epstein.