Securities / Derivatives

FIA Publishes Netting and Collateral Opinions for China

13/01/2023

China’s adoption of its new Futures and Derivatives Law in August 2022 made it possible for FIA to commission the opinions.

Enforcement

US SEC Files Charges Against Crypto Firms Gemini, Genesis

13/01/2023

The SEC says the Gemini Earn programme, which allowed investors to earn interest on their crypto assets, constituted the offer and sale of unregistered securities.

Sanctions

Russia to Resume Yuan Trading to Stabilise Ruble

13/01/2023

The move comes a year after the central bank suspended yuan trading. The finance ministry said it is allocating the equivalent of about $800mn for FX trades.

AML / KYC

UK FCA Penalises Qatar’s Al Rayan Bank for AML Failures 

13/01/2023

The bank had no policy for handling large deposits and did not conduct an internal audit of its financial crime unit over an 8-year period, among other weaknesses.

Henan Fraud: Village Banks Start Repaying Big Depositors

12/01/2023

Customers with deposits under CNY 500,000 were repaid in several rounds since July 2022. The latest reimbursements involve deposits over CNY 500,000.

Securities / Derivatives

LME Blocked from Resuming Nickel Trade During Asia Hours

12/01/2023

The FCA thinks the LME does not have adequate supervisory controls for Asia market hours. The Oliver Wyman review has also been released.

Crypto / Digital Assets

PBOC Starts Including CBDC Data in Monthly Statistics Report

12/01/2023

e-CNY in circulation amounted to around $2bn at the end of December, representing 0.13 percent of total currency in circulation.

ESG / Sustainability

TAIFEX Outlines Plans to Further Develop Derivatives Market

12/01/2023

TAIFEX will introduce customisable options contracts, extend central clearing to TWD-denominated NDFs, and build an ESG information platform for the futures market.

Securities / Derivatives

SEBI Allows Non-Promoter Shareholders to Use OFS Mechanism

12/01/2023

SEBI is allowing non-promoter shareholders such as institutional investors to sell their shares for better pricing via the ‘offer for sale’ mechanism.