Enforcement

China MOF Fines Deloitte for Huarong Audit Failures

19/03/2023

Deloitte’s China arm was fined a record CNY 212 million for “serious” deficiencies in its audit work for China Huarong Asset Management between 2014 and 2019.

Securities / Derivatives

KRX Chief Calls for Full Lifting of Short Selling Restrictions

19/03/2023

KRX chief Sohn Byung Doo says the complete resumption of short selling will help Korea win inclusion in MSCI’s developed markets index.

Securities / Derivatives

SFC Issues Guidance on New Mainland Rules for Overseas Listings

19/03/2023

The guidance covers disclosures of interests in Mainland issuers and the application of the Takeovers Code under the new Mainland regulations.

Capital / Liquidity

China Responds to US Banking Crisis With RRR Cut

19/03/2023

State media said the RRR cut reflects the Chinese government’s “responsibility to the world” after it resisted following the US in raising interest rates.

AML / KYC

New Cybercrime Prevention Law Takes Effect in Thailand

19/03/2023

The law allows banks to temporarily suspend illicit bank accounts without having to wait for a fraud to occur.

Crypto / Digital Assets

SFC Grants First In-Principle Approval to STO Platform

19/03/2023

The approval was granted to Signum Digital Limited, a joint venture between Coinstreet Holdings and Somerley Capital Holdings.

Sanctions

Raiffeisen Mulls Sberbank Cash Swap to Reduce Russia Exposure

19/03/2023

The deal involves Sberbank receiving roubles in Moscow from Raiffeisen’s Russian subsidiary, and Raiffeisen receiving euros in Vienna from Sberbank’s former European arm.

ESG / Sustainability

Mongolia’s Largest Bank Issues Country’s First Green Bond

19/03/2023

The green bond will support Mongolia’s goal of increasing green lending from the current 1.4 percent to 10 percent of all banking sector lending by 2030.

AML / KYC

Jarek Jakubcek Discusses How Binance Works With Law Enforcement

19/03/2023

Jarek Jakubcek, Head of Law Enforcement Training at Binance, discusses working with law enforcement and how the technology used in investigations has evolved over time.