Enforcement

Korea to Prosecute “Malicious Rumours” in Financial Market

19/04/2023

FSC Chairman Kim Joo-hyun instructed the FSS to prosecute those who spread false information after rumours circulated about problems at two unlisted lenders.

AML / KYC

Malaysia to Re-evaluate Goldman Settlement Over 1MDB

19/04/2023

The government believes the 2020 deal “was done hastily” and could have resulted in more public funds being recovered.

Australia Consults on Bill to Lower Entry Barriers in Advice Industry

19/04/2023

Financial advisers with ten years experience and a clean disciplinary record will be deemed to have met the education requirements.

Capital / Liquidity

BCBS, FSB Consider Changes to Global Banking Rules

19/04/2023

Fitch Ratings says global standard-setters may adjust the existing prudential and resolution frameworks, potentially making IRRBB a Pillar 1 requirement.

Securities / Derivatives

Two More Chinese Firms List GDRs in Switzerland

19/04/2023

The listings come despite last month’s reports that Chinese regulators had stopped accepting applications from mainland firms seeking to issue GDRs in Switzerland.

Fintech / Regtech

FSC Korea Issues Guidelines to Promote Safe Usage of AI Tech

19/04/2023

A verification system has also been introduced for use in examinations of AI-driven credit scoring models deployed by credit bureaus.

Securities / Derivatives

CSRC Issues Draft Rules for Futures Market Practitioners

18/04/2023

The draft rules cancel qualification management requirements, strengthen supervision and self-discipline requirements, and expand the range of prohibited behaviours.

Market Infrastructure

NSE IFSC-SGX Connect to Fully Launch on 3 July

18/04/2023

SGX will migrate all open positions in SGX Nifty to the relevant NSE IFSC NIFTY contracts during the weekend of 30 June.

AML / KYC

Chinese Court Sentences Ex-CDB Exec to 10 Years Jail

18/04/2023

The court found that Fu Xiaodong accepted bribes over 13 years while serving in senior positions at the China Development Bank.