ESG / Sustainability

GFIN Set to Open Applications for ‘Greenwashing TechSprint’

12/04/2023

The TechSprint, hosted on the FCA’s digital sandbox, will seek to develop a tool or solution to help tackle greenwashing risks in financial services.

ESG / Sustainability

RBI Issues ‘Green Deposits’ Framework for Banks, NBFCs

12/04/2023

The allocation of funds raised through green deposits shall be subject to independent third-party verification and assurance each year, the RBI says.

Enforcement

CFTC Fines Goldman Sachs for Swaps Conduct Failures

12/04/2023

The CFTC said Goldman touted supposed benefits of same-day swap transactions to clients, but not the corresponding costs.

Fintech / Regtech

RBI Finalises Rules for Outsourcing of IT Services by Banks

12/04/2023

RBI approval is not required for IT outsourcing arrangements, but they should be subject to on-site or off-site monitoring and inspection by regulators.

BOJ Gets First New Governor After Ten Years

12/04/2023

Kazuo Ueda plans to maintain ultra-loose monetary policy but signalled an openness to tweaking the BOJ’s yield control policy.

AML / KYC

Hong Kong Announces New Measures to Combat Phone Scams

12/04/2023

Implementation of an “SMS sender name” registration system will begin in the banking industry by the end of this year.

Enforcement

Korean Authorities Investigate Kakao for Market Manipulation

11/04/2023

The FSS is investigating whether Kakao manipulated the stock price of K-pop agency SM Entertainment.

FSC Korea Tightens Regulations on Bank Closures

11/04/2023

The changes are intended to better protect consumers from sudden decisions by lenders to wind down operations, as seen in the case of Citibank Korea in late 2021.

Securities / Derivatives

SEBI Mandates Direct Plan, Trail Fee Model for AIFs

11/04/2023

SEBI said AIFs should ensure onboard investors who approach them through a SEBI-registered intermediary are onboarded via direct plan.