Fintech / Regtech

SEBI Issues New Advisory on Cybersecurity Practices

28/02/2023

The advisory calls on firms to take into account concentration risk when outsourcing multiple critical services to the same third party vendor.

Market Infrastructure

NSE India Wins Final Approval to Launch Social Stock Exchange

27/02/2023

NSE said the social stock exchange would provide a new avenue for social enterprises to finance social initiatives.

Enforcement

US SEC Penalises SPAC for Allowing Embezzlement by CFO

27/02/2023

A lack of internal controls and oversight allowed the SPAC’s CFO to misappropriate cash and falsify financial reports for over a year.

Securities / Derivatives

HKEX to Adjust Rules to Support CSRC’s New Overseas Listing Regime

27/02/2023

Listing applicants from the Mainland will have to submit to HKEX a notification issued by the CSRC confirming their completion of Mainland’s filing procedures.

Market Infrastructure

Stock Connect Trading Calendars Adjustments to Take Effect in April

27/02/2023

The trading calendar enhancements will add more than ten trading days to northbound and southbound Connect each year.

Securities / Derivatives

Korea to Enhance Regulatory Framework for Asset Securitisation

27/02/2023

The amendments aim to increase the flexibility of asset securitisation as a fundraising tool, while also improving transparency and risk management.

Crypto / Digital Assets

US Prosecutors Unveil More Charges Against FTX Founder

26/02/2023

The additional charges allege that Sam Bankman-Fried conspired to commit bank fraud and to make more than 300 illegal political donations.

Market Infrastructure

FSB Sets Out Next Steps for Enhancing Cross-border Payments

26/02/2023

The next phase of work focuses on payment system interoperability, legal and regulatory frameworks, and cross-border data exchange.

Market Infrastructure

UK Version of EMIR Refit to Take Effect from 30 Sept 2024

26/02/2023

The FCA and BOE have set out the final changes to the derivatives reporting framework under UK EMIR. Draft validation rules and XML schemas are open for feedback.