CBIRC Issues New Branch Operation Rules for Trust Companies

31/03/2023

Trust companies can set up remote branches based on their needs, but management headquarters must be in their registered domicile.

Securities / Derivatives

CSRC Chairman Meets With Foreign Financial Institutions

31/03/2023

CSRC chairman Yi Huiman encouraged the heads of several global financial institutions to expand their operations and investments in China.

AML / KYC

UK Court Allows Wirecard-related Fraud Suit to Proceed

31/03/2023

An Indian business was sold to a Mauritius-based fund in 2015, weeks before Wirecard bought the company for a price ten times higher.

AML / KYC

Taiwan FSC to Develop Regulatory Guidelines for Crypto Industry

31/03/2023

The guidelines will cover information disclosures, product listings, customer asset segregation, money laundering prevention, consumer protection, and information security, among other areas.

Market Infrastructure

Rules Proposed to Adopt T+1 in US Muni Bond Market

31/03/2023

US equities and corporate bond markets will move to T+1 on 28 May 2024. The same implementation date is proposed for municipal securities.

AML / KYC

Kuwait Court Sentences Defendants in 1MDB Case

31/03/2023

The son of a former prime minister was sentenced to 10 years in jail. Malaysia financier Jho Low was also sentenced in absentia.

Enforcement

Bankman-Fried Enters Not Guilty Plea to Revised Indictment

31/03/2023

Bankman-Fried previously pleaded not guilty to eight charges. Four charges were added last month and a bribery charge earlier this week.

Capital / Liquidity

NobleOak Life Breached Capital Requirements, Says APRA

31/03/2023

APRA said breaches are being remediated and are not connected to any recent financial market movements or developments.

ESG / Sustainability

Taiwan to Require Listed Companies to Have Female Directors

31/03/2023

The requirement to appoint female directors is part of efforts to improve corporate governance culture among listed companies in Taiwan.