India Sets Up Panel to Review National Pension System

07/04/2023

The panel will seek to improve the benefits to government employees covered under the NPS and try to unify the different schemes adopted across India.

Securities / Derivatives

FSC Korea Finalises New Rules for Convertible Preference Shares

07/04/2023

The rules were amended to prevent large shareholders from using (redeemable) convertible preference shares to dilute small shareholders.

SEBI Issues New Advertising Rules for Advisers, Analysts

06/04/2023

SEBI’s new rules seek to curb misleading investment advertisements and address the use of unregistered brand names, trade names and logos.

Fintech / Regtech

BNM Proposes to Introduce ‘Green Lane’ for FinTech Sandbox

06/04/2023

The ‘Innovation Green Lane’ will offer a more risk-proportionate and accelerated pathway for innovative solutions by financial institutions with strong risk management capabilities.

Enforcement

ICBC Under Probe for Underwriting, Bond Pricing Practices

06/04/2023

The pricing of debt financing instruments underwritten by ICBC “seriously deviated from the reasonable level of the market” and “disturbed the market order”.

Crypto / Digital Assets

UBS Executes Cross-border Intraday Repo on Broadridge Blockchain Platform

06/04/2023

Intraday repo provides a more efficient means of managing liquidity, while also providing additional funding flexibility and reducign operational risk.

AML / KYC

UPDATED – HK Police Charge 10 Suspects for Ramp-and-Dump Activities

06/04/2023

Four of the individuals are alleged to have conspired with some of the individuals who were charged last September to use nominee accounts to corner the shares of two target stocks.

Fintech / Regtech

Malaysia Issues 2nd Consultation on New Consumer Credit Act

06/04/2023

The new consultation paper covers licensing, financial, governance and conduct requirements for unregulated credit services including BNPL providers.

Crypto / Digital Assets

‘Genesis’ Darknet Market Sanctioned and Shuttered by Authorities

06/04/2023

Law enforcement arrested 119 people and conducted 208 property searches in connection with Genesis Market, a criminal marketplace believed to be located in Russia.