Enforcement

UK FCA Blocked Over 8,500 Misleading Ads Last Year

06/02/2023

The FCA will continue to put pressure on those using social media to illegally promote investments. In July, it will also introduce the new ‘Consumer Duty’.

Sanctions

New Price Caps Targeting Russian Petroleum Products Take Effect

06/02/2023

A 55-day transitional period is provided for Russian petroleum products purchased and loaded onto vessels before 5 February and unloaded before 1 April 2023.

Market Infrastructure

India Budget to Provide Boosts to India Fintech, GIFT City

06/02/2023

The budget includes a revamp of India’s credit guarantee scheme for MSMEs and new incentives to draw companies to GIFT City.

China Unveils First National Ethics Code for Accountants

05/02/2023

The Code should be integrated into training and education programmes for accounting personnel, including in colleges and universities.

Securities / Derivatives

SEBI to Enhance Risk Disclosures in F&O Segment

05/02/2023

A SEBI study found that 90 percent of active retail investors trading future and options incurred losses averaging INR 125,000 in the FY 2021-22.

ESG / Sustainability

China Launches National Carbon Exchange in Beijing

05/02/2023

The China Beijing Green Exchange was launched with the aim of building itself into a national-level green exchange.

Fintech / Regtech

FSC Korea to Extend MyData Services to Small Businesses

05/02/2023

MyData, Korea’s version of open banking, will be extended to small businesses, allowing credit providers to access to more data to make lending decisions.

Singapore, Brunei to Deepen Cooperation on Banking, Insurance Supervision

04/02/2023

New MoU will deepen cooperation by facilitating information exchange and cross border on-site inspections between the two jurisdictions.

AML / KYC

AFP Dismantles Chinese-Australian Money Laundering Syndicate

03/02/2023

Police seized over AUD 150 million in assets including crypto, and charged nine individuals including a NAB banker with money laundering.