Fintech / Regtech

MAS Says Risk of ‘Herding’ from AI Use is Low

02/08/2023

MAS chairman Lawrence Wong addressed queries on the impact of AI on trading platforms in financial markets.

Enforcement

RBI Fines State-run Energy Firms for Reporting Foreign Investments Late

02/08/2023

The RBI fined the four companies a combined $240mn for their delay in reporting overseas investments.

Fintech / Regtech

UK to Develop New Data Standards for Regulatory Reporting

02/08/2023

The BOE and FCA have endorsed key recommendations that will transform regulatory data collections in the UK.

Securities / Derivatives

HKEX Will No Longer Single Out ‘China Risk’ in Issuer Disclosures

02/08/2023

HKEX removed specific requirements for issuers to disclose China-related risks, to align its requirements across all overseas-incorporated companies.

Chinese Regulators Ask Banks to Postpone Dollar Purchases – Report

02/08/2023

The window guidance is the latest in a series of steps taken by Chinese authorities this year to bolster the yuan.

Crypto / Digital Assets

US SEC Files Charges Over $1bn in Unregistered Crypto Securities Offerings

01/08/2023

Richard Heart misappropriated at least $12mn of offering proceeds to purchase luxury goods, including the largest black diamond in the world.

New Consumer Duty Regime Enters into Force in UK

01/08/2023

The FCA says firms should be open and honest, avoid harm, and support consumers in pursuing their financial goals.

Capital / Liquidity

Indian Banks Preemptively Preparing for Shift to ECL Model

01/08/2023

Some Indian banks are setting aside fresh provisions in anticipation of the planned implementation of the Expected Credit Loss framework.

Securities / Derivatives

CFFEX Seeks Greater Market Participation from Institutional Investors

01/08/2023

CFFEX will roll out new training, technology and incentives to better support intermediaries in servicing mid- and long-term institutional investors.