Securities / Derivatives

CSRC Grants QDII Status to Morgan Stanley Unit

25/01/2023

Morgan Stanley Huaxin Fund Management is the 10th asset manager to obtain QDII status, which allows firms to invest offshore for mainland investors.

Enforcement

Korean Regulator Promises to Punish Convertible Bond Abuse

25/01/2023

The FSS says unfair trade practices and market manipulation are occurring in private placements of convertible bonds.

AML / KYC

France Maintains Public Access to Beneficial Owners Register

25/01/2023

The French government plans to define the future methods of access “soon”, taking into account the November decision by the CJEU.

JFSA, ECB Agree to Cooperate on Banking Supervision

25/01/2023

The Memorandum of Cooperation covers procedures for information sharing and on-site visits, and the permissible uses and confidentiality of information shared.

Enforcement

US SEC Fines Bloomberg Over “Misleading” BVAL Disclosures

25/01/2023

SEC commissioners Hester Peirce and Mark Uyeda issued a joint statement saying they do not support the action against Bloomberg.

Crypto / Digital Assets

NYDFS Issues Guidance on Crypto Custody and Related Disclosures

25/01/2023

The guidance emphasises the “paramount importance of equitable and beneficial interest always remaining with the customer”.

Capital / Liquidity

BNM Consults on Standardised Approach to Credit Risk Capital

25/01/2023

FIs are asked to provide feedback and complete an accompanying Quantitative Impact Study reporting template.

Crypto / Digital Assets

Action Against Crypto Firm Bitzlato Yields Seizures, More Arrests

25/01/2023

Authorities seized EUR 18 million in crypto wallets and froze EUR 50 million in accounts at other crypto exchanges, Europol says.

Crypto / Digital Assets

BISIH London Invites Firms to Test Retail CBDC API Platform

25/01/2023

Project Rosalind’s phase one work will be complete within Q1 and be followed by a further phase focused on testing and validating API functionality.