Securities / Derivatives

MAS Finalises New Corporate Finance Due Diligence Standards

24/02/2023

From 1 October 2023, corporate finance advisers will have to meet new minimum standards when conducting due diligence on transactions.

Market Infrastructure

DSB Announces Launch Dates for UPI Service

24/02/2023

The UPI UAT environment and a client onboarding and support platform will be available from 17 April, and the UPI production environment from 16 October.

Fintech / Regtech

Deutsche Bank Develops Investment Servicing Platform for Digital Funds

23/02/2023

The platform will make it easier for firms to launch and administer digital investment funds, which may comprise crypto, tokenised securities and other digital assets.

Securities / Derivatives

China Encourages Establishment of Property-focused PE Funds

22/02/2023

The pilot programme is aimed at boosting liquidity in the property sector. The CSRC is encouraging participation from foreign investors.

Securities / Derivatives

Chinese SOEs Being Asked to Stop Using Big Four Auditors

22/02/2023

Chinese SOEs are being asked to allow their contracts with the big four audit firms to expire and use local accountants instead.

AML / KYC

AUSTRAC Accepts Enforceable Undertaking from Cash Converters

22/02/2023

The personal finance company’s AML/CTF programme was not properly implemented and did not include sufficient details on transaction monitoring and CDD.

Enforcement

Wells Fargo, HSBC Drawn into SEC Whatsapp Probe

22/02/2023

Wells Fargo said regulators are investigating its compliance with records-retention requirements. HSBC said it is close to a settlement with regulators.

Market Infrastructure

14 European Exchanges Join Forces to Develop Consolidated Tape

22/02/2023

The participating exchange groups include Deutsche Boerse Group, Euronext, Nasdaq, and SIX Group, as well as the local exchanges in  several European cities.

ESG / Sustainability

China to Create Framework for Mandatory ESG Disclosures

22/02/2023

Regulators may initially introduce the new ESG disclosure requirements on a “comply or explain” basis before transitioning to a fully mandatory framework.