Crypto / Digital Assets

US Lawmakers Propose Draft Stablecoin Legislation

21/04/2023

Applications from stablecoin issuers would be “deemed approved” if regulators do not reach a decision within 4.5 months from the application.

AML / KYC

BNM, FICG to Co-host AML/CFT Hackathon in June

21/04/2023

The hackathon will be hosted with regional FIU body FICG to “search for creative solutions to curb financial crimes, particularly scams”.

Enforcement

CSRC Investigating GF Securities for Underwriting Failures

21/04/2023

The investigation is related to a 2018 share issuance for which Hong Kong-listed GF Securities served as an underwriter.

Capital / Liquidity

EU Proposes to Adjust Bank Crisis Management Framework

20/04/2023

The proposal will facilitate the use of deposit guarantee schemes and resolution funds to shield depositors from bearing losses in banking crises.

Market Infrastructure

CFETS Invites Foreign Investors to Apply for Membership

20/04/2023

Foreign institutional and central bank-like investors investing in China’s bond market can apply to become CFETS members and participate in the FX market.

ESG / Sustainability

Verra Publishes New Draft Methodology for REDD Projects

20/04/2023

The updated draft comes after investigative journalists reported finding that most of Verra’s forest carbon offsets do not represent genuine carbon reductions.

Enforcement

Dubai: KPMG Ordered to Pay Investors Over Audit Violations

20/04/2023

The court said KPMG Lower Gulf committed “many violations” of international auditing standards and ordered the firm to pay investors $231mn.

ACCC Defers Decision on ANZ-Suncorp Merger to End-July

20/04/2023

The timeframe can be extended if applicants agree. ANZ agreed to an ACCC request to extend the review period from 12 June to 28 July.

Ravi Menon Reported to be Leaving MAS This Year

20/04/2023

Ravi Menon is MAS’ longest-serving managing director. Former deputy managing director Chia Der Jiun is tipped to be Menon’s successor.