Securities / Derivatives

SEBI Proposes to Allow PE Funds to Sponsor Mutual Funds

18/01/2023

The changes will draw fresh capital into the fund industry, encourage more competition, and allow easier exits for existing sponsors.

Capital / Liquidity

Chinese D-SIBs Have $550bn TLAC Shortfall: S&P Global Ratings

18/01/2023

Under rules released in 2021, China’s four G-SIBs will have to hold TLAC equal to 16 percent of their risk-weighted assets by 1 January 2025.

Crypto / Digital Assets

EU: MiCA Vote Delayed Again Until April 2023 – Report

18/01/2023

The delay is reported to be due to technical issues associated with translating the English text into the EU’s 24 official languages.

Enforcement

New Zealand: Cigna to Pay Biggest-ever Penalty in FMA Case

18/01/2023

Cigna increased premiums and cover for customers without being clear and transparent about the basis for the increase.

Market Infrastructure

ESMA Adds TAIFEX to List of Recognised Third Country CCPs

18/01/2023

The recognition allows European financial institutions to apply the minimum risk weight of 2 percent for exposures to TAIFEX derivatives.

Enforcement

Singapore: Ex-Agritrade CFO Sentenced to 20 Years Jail

17/01/2023

The former CFO instructed subordinates to submit false financial statements to banks in Japan, South Korea, India and Taiwan to obtain trade financing.

ASIC Commissioner Steps Down Early to Join Vanguard

17/01/2023

Commissioner Sean Hughes was due to end his five-year term in December but will now stop on 3 February.

China’s Bad Debt Managers to Help Finance Property Firms

17/01/2023

The PBOC will channel CNY 80 billion of loans through the bad debt managers, who are asked to match the amount with their own funds.

Crypto / Digital Assets

Chinese Securities Firm Switches on CBDC Payment Option

17/01/2023

China’s e-CNY system can also now capable handle offline payments, and “tap to pay” can function when devices are powered off.