Enforcement

FSC Korea Reorganises Capital Market Fraud Investigation Unit

05/01/2023

The change will improve the efficiency and expertise available for conducting investigations into capital market frauds, the FSC said.

Fintech / Regtech

CBIRC Approves Capital Raise by Ant’s Consumer Finance Unit

05/01/2023

The approval is being hailed as a “milestone” after Chinese regulators forced Ant Group to cancel its IPO in November 2020 and ordered it to restructure.

Sanctions

OFAC Issues Initial Price Cap Guidance for Russian Petroleum Products

05/01/2023

The new price cap on petroleum products is due to take effect on 5 February 2023, alongside an EU ban on seaborne imports of refined products originating from Russia.

Crypto / Digital Assets

Russia’s Sberbank Issues Gold-Backed Digital Financial Assets

04/01/2023

Gold-backed DFAs “may be a great alternative to investments amid de-dollarisation”, said Sber’s first deputy chairman, Alexander Vedyakhin.

ESG / Sustainability

Taiwan Central Bank Unveils Plans for Addressing Climate Change

04/01/2023

The central bank will incorporate weather factors in economic forecast models, use monetary policy to promote sustainable finance, and invest in green bonds.

Crypto / Digital Assets

Korean Court Jails Former Crypto Execs for Running Ponzi Scheme

04/01/2023

Crypto exchange V Global promised to triple investments in six months, then used funds from new members to make payouts to existing members.

Securities / Derivatives

CSRC Proposes New Position Management Rules for Futures Market

04/01/2023

The proposed rules empower futures exchanges to impose position limits and reporting requirements on market participants. Position limit exemptions may be granted for hedging activities.

AML / KYC

Dutch Banks Start Charging Customers for AML Checks

04/01/2023

Companies, associations, charities and churches, among others, are being charged a monthly levy to cover the rising cost of AML checks.

CBIRC Issues New Consumer Protection Rules for Banks, Insurers

04/01/2023

Banks and insurers must incorporate consumer protection mechanisms into their corporate governance, culture-building exercises, and business development strategies.