Market Infrastructure

China Plans Structural Overhaul of Financial Sector Regulators

08/03/2023

A new national financial regulatory authority will be established, absorbing the CBIRC and taking over some functions from the PBOC and CSRC.

Sanctions

Russia Extends Restrictions on FX Withdrawals, Overseas Transfers

08/03/2023

The restrictions are being preserved due to the sanctions that prohibit Russian financial institutions from buying western countries’ cash, the central bank said.

ESG / Sustainability

GASLA Issues Updated Framework for ESG and Securities Lending

08/03/2023

The updated framework provides offers guidance to help financial institutions evaluate securities lending in the context of their ESG policies.

Crypto / Digital Assets

US Court Authorises Emergency Freeze on Crypto Hedge Fund Assets

08/03/2023

BKCoin and one of its co-founders commingled client money and used some make “Ponzi-like payments” to other investors.

Securities / Derivatives

SEBI Cautions Mutual Funds Against Misleading Ads

07/03/2023

Some mutual funds are leading investors to believe they will receive fixed returns, and projecting high returns based on past performance.

Securities / Derivatives

HKEX Identifies Compliance Deficiencies at Some Firms

07/03/2023

Participants should review their current practices and procedures, strengthen their controls, and take immediate actions to rectify any breaches or deficiencies.

Securities / Derivatives

CME Group to Launch Offshore Renminbi Options on 3 April

07/03/2023

USD/CNH options have become one of the most traded pairs in the OTC market. The new listed contracts will offer a centrally cleared alternative.

Enforcement

SFC Bans Former Senior Manager of Citigroup Asia Unit for Misconduct

07/03/2023

Philip Shaw’s misconduct was “intentional, dishonest and contrary to a licensed person’s overarching duty to act in clients’ best interests,” the SFC said.

Enforcement

Singapore Police are Investigating Terraform Labs – Report

06/03/2023

Singapore police confirmed “ongoing” investigations into Terraform Labs, which is also being sued by the US SEC following its collapse last May.