Korean Savings Banks Directed to Improve Internal Controls

17/01/2023

New guidelines require the use of biometric authentication systems to prevent password sharing among managers and employees.

EU Regulators to Scrutinise Financial Product Marketing

17/01/2023

A review will be undertaken this year to assess whether marketing and advertising comply with MiFID II disclosure rules.

Fintech / Regtech

Non-Resident Indians Allowed to Make UPI Transfers

17/01/2023

NPCI said NRIs in ten jurisdictions can use the UPI platform to digitally transfer funds, using their international mobile numbers.

Securities / Derivatives

India to Complete Transition to T+1 on 27 January

17/01/2023

All large-cap and blue-chip stocks will move to the shortened T+1 settlement cycle on 27 January. Market liquidity and trading volumes are expected to improve.

Securities / Derivatives

Shanghai Seeks to Add ‘Green Equities’ to Stock Connect

17/01/2023

The Shanghai regulator is also seeking to explore the possibility of adding bond targets to the Hong Kong Stock Connect.

Crypto / Digital Assets

Korea FSS to Develop Crypto Market Monitoring Tool

17/01/2023

At a forum on Monday, FSS governor Lee Bok-hyun also said accounting standards will be established to require companies to disclose their crypto exposures.

Crypto / Digital Assets

Iran, Russia Working on Gold-Backed Stablecoin – Report

17/01/2023

The stablecoin is intended to serve as a payment method for foreign trade without requiring the use of any fiat currency.

Enforcement

Taiwan Passes Law Changes to Deter Property Speculation

17/01/2023

The amendments introduce fines up to TWD 50 million for market manipulation and the spreading of false information regarding housing prices.

Market Infrastructure

China Directs Banks to Use Yuan in Cross-border Transactions

17/01/2023

Banks are directed to prioritise the use of the yuan in cross-border trade, as well as in overseas investment and financing transactions.