ESG / Sustainability

Korea Takes Measures to Address Fraudulent IPO Subscriptions

30/04/2023

IPO bookrunners must verify institutional investors can pay for stocks before allotment; risk weight for carbon emissions rights is reduced.

Capital / Liquidity

ECB Scrutinising Bond Losses at European Banks

30/04/2023

The ECB is asking banks about their practices for hedging interest rate risk, including to assess whether risks have been shifted to nonbanks.

Market Infrastructure

China Uses CNY Cross-border More than USD for First Time

30/04/2023

The yuan was used in 48.4 percent of China’s cross-border transactions in March, compared to 46.7 percent for the dollar.

Enforcement

SEBI Imposes 7-Year Market Ban Against Karvy Stock Broking

29/04/2023

Karvy Stock Broking Limited was found to have misused clients’ assets in 2019, by pledging them as collateral to borrow funds from banks and NBFCs.

ASIC Updates Guidance for Reportable Situations Regime

29/04/2023

ASIC says the focus of the update is to improve consistency and quality of reporting practices and reduce the regulatory burden on licensees

Singapore Raises ABSD Stamp Duties to Cool Property Market

28/04/2023

Foreigners buying any residential property in Singapore will see the Additional Buyer’s Stamp Duty double.

AML / KYC

FATF Publishes Mutual Evaluation Report on Indonesia

28/04/2023

Indonesia has a strong AML/CFT framework but needs to address risks in some sectors and improve investigation and prosecution. Foresty crime and terrorism financing are some of the country’s key risks.

Fintech / Regtech

Japan: Reforms Needed to Boost Digital Green Bond Market

28/04/2023

Expert panel finds that the technology used in JPX’s digitally tracked green bond has other applications, but some challenges need to be addressed first.

Market Infrastructure

Firms Must Continue to Act to Ensure Orderly LIBOR Transition: FSB

28/04/2023

A “pile-up” towards end-June 2023 that could introduce operational risks and wider market disruption, the FSB said.