Taiwan FSC Signs Supervisory Cooperation MoU with NYDFS

13/04/2023

The MoU covers information sharing, financial inspections, disciplinary actions, licensing approvals, and confidentiality related to supervisory duties.

Crypto / Digital Assets

Hong Kong Doubles Down on Pledge to Develop Web3

13/04/2023

Financial Secretary Paul Chan said crypto market volatility provides an opportunity for Web3 development. SFC official said DeFi platforms require licensing.

Capital / Liquidity

Recent Banking Sector Turmoil to Inform FSB’s Policy Work

12/04/2023

FSB working with BCBS to analyse and learn from recent banking sector turmoil. Cyber incident reporting recommendations also finalised.

Enforcement

SFC Fines Ninety One HK Unit for Unlicensed Futures Dealing

12/04/2023

Ninety One did not have a Type 2 (dealing in futures contracts) licence, believing it could rely on SFO exemptions to deal in futures contracts.

Securities / Derivatives

SEBI Issues Framework to Improve IPO Price Band Discovery

12/04/2023

Stock exchanges will have to compute a common equilibrium price for IPO listings if their call auctions result in equilibrium prices that are too far apart.

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.