Fraud, Scams & Cybercrime

CFTC Issues Largest Ever Civil Monetary Penalty

30/04/2023

The CFTC ordered the operator of a fraudulent multilevel marketing scheme to pay a $1.7bn penalty and a further $1.7bn in restitution.

Emerging Prudential Risks

China Establishes Nationwide Property Registration System

30/04/2023

The new registration system will provide regulators full transparent view of real estate ownership and support their efforts to prevent systemic risks.

AI Risk & Governance

US Agencies Pledge to Combat Harmful Uses of AI

30/04/2023

Four agencies reaffirmed their commitment to “vigorously enforce their collective authorities and to monitor the development and use of automated systems.”

Market Risk

BSP Streamlines and Expands Currency Hedging Facility

30/04/2023

The BSP approved amendments to make it easier for clients of large banks to hedge peso-US dollar exposures through NDFs.

Structural Regulation

China Outlines Plan for Shifting Enterprise Bond Oversight to CSRC

30/04/2023

Enterprise bonds, mainly issued by large state-owned enterprises, have to date been subject to oversight and supervision by the NDRC.

Market Abuse

Korean Authorities Probe Manipulation in Eight Stocks

30/04/2023

Prosecutors have issued travel bans on ten individuals who are suspected of engaging in stock price manipulation activities.

Credit Risk

Hong Kong Further Extends Repayment Period for Trade Loans

30/04/2023

Existing trade facilities falling due between May and July 2023 can be extended by a further 90 days, the HKMA said.

Climate Risk

Report Offers Recommendations to Finance GBA Net Zero Transition

30/04/2023

Report from WRI China calls for the establishment of a cross-regional agency coordination mechanism for financing decarbonisation in the GBA.

Trading & Investment

Korea Takes Measures to Address Fraudulent IPO Subscriptions

30/04/2023

IPO bookrunners must verify institutional investors can pay for stocks before allotment; risk weight for carbon emissions rights is reduced.