Korean Lenders Agree to Address Frictions in PF Market

02/05/2023

Under the revised “PF Lenders Agreement”, creditors will be able to quickly reschedule debt and supply new funds if real estate projects being financed run into trouble.

ESG / Sustainability

Korea’s ESG Disclosure Rules Will be Consistent with Global Standards

02/05/2023

The FSC will seek to ensure consistency with global standards and major markets to reduce the burden for domestic firms.

Sanctions

India, Russia to Explore Cross-border Payment Linkages

02/05/2023

India agreed to explore the acceptance of Russian Mir cards, a link with Russia’s Faster Payments System, and adoption of Russia’s financial messaging system.

Sanctions

US Authorities Issues First ‘Wrongful Detention’ Sanctions

02/05/2023

Russia’s Federal Security Service, Iran’s Islamic Revolutionary Guard Corps Intelligence Organization, and four Iranian officials were designated.

Securities / Derivatives

SEBI Bans Brokers from Pledging Client Funds for Bank Guarantees

01/05/2023

Existing bank guarantees created from client funds must be wound down by 30 September, to prevent misuse of investors’ money.

AML / KYC

US Court Convicts Hip Hop Artist Over Jho Low Connection

01/05/2023

Prosecutors said Pras Michél worked with Jho Low to influence the US government during the Obama and Trump presidencies.

Market Infrastructure

New BOJ Governor to Review Past Monetary Policy Moves

01/05/2023

The review will look into various monetary policy moves taken over the past 25 years, and not be tied to near-term policy shifts.

Enforcement

Chinese Police Question Staff at Bain & Co Shanghai Office

01/05/2023

The news comes after Chinese authorities closed the Beijing offices of Mintz Group and launched a cybersecurity probe into US chipmaker Micron.

Market Infrastructure

PBOC Issues Rules to Facilitate Introduction of Swap Connect

01/05/2023

Initially, centrally-cleared interest rate swap products will be eligible for trading under the northbound scheme. A southbound leg will be considered later.