Trading & Investment

China State Fund Buys ETFs to Support Stock Market

24/10/2023

State-controlled Central Huijin Investment did not disclose how much it invested in ETFs. Brokers estimate the amount around CNY 10 billion.

Anti-Bribery & Corruption

China: Former Stock Exchange Official Facing Bribery Prosecution

24/10/2023

Authorities said the former deputy general manager “still did not restrain himself” after the 19th and 20th National Congress, despite the high-pressure anti-corruption campaign.

Market Abuse

Top Kakao Executive Arrested on Stock Manipulation Charges

24/10/2023

The investigation into Kakao and its top executives began in February. The company’s CIO was arrested due to concerns that he may flee or tamper with evidence.

Structural Regulation

Mizuho to Seek EU Regulatory Approval to Convert to Universal Bank

23/10/2023

Mizuho Financial Group plans to merge its Amsterdam-based banking business and its Frankfurt-based securities business in 2025.

Custody & Infrastructure

StanChart, Deutsche Complete First UDPN Proof of Concept

23/10/2023

The UDPN messaging system is designed to provide interoperability between stablecoins and CBDCs, similar to how the SWIFT network facilitates bank transactions.

Cryptocurrency

EBA, ESMA Consult on Suitability, Remuneration Under MiCA

23/10/2023

Joint guidelines cover suitability of management, owners and board members of crypto firms and stablecoin issuers. Separate EBA consultation covers remuneration policies.

Emerging Prudential Risks

China Issues Framework for Identifying Systemically Important Insurers

23/10/2023

Chinese insurance companies will be assessed every two years and designated systemically important based on 13 evaluation indicators.

Anti-Money Laundering

Egmont Group Suspends Membership of Russian FIU

23/10/2023

The move bars Rosfinmonitoring from using Egmont Group’s platform to share information with other FIUs and from playing any other role in the organisation.

Data Privacy

US CFPB Proposes Rule to Implement Open Banking

23/10/2023

The CFPB says the proposed rule would allow consumers to “break up” with banks that provide bad service and forbid companies from misusing personal financial data.