Market Infrastructure

Shenzhen Exchange to Pilot Cross-Border Bonds to Serve GBA

20/12/2022

Issuers can be Chinese government entities or high-quality corporates. The SZSE is temporarily not charging any fees for cross-border bond listing services.

AML / KYC

IDAXA to Develop Global AML Standards for Crypto Industry

20/12/2022

IDAXA has launched a new working group, chaired by former policymaker Andrew Churchill, to propose globally harmonised AML/CFT standards for virtual asset service providers and regulators.

Market Infrastructure

SFC, CSRC Announce Move to Expand Scope of Stock Connect

19/12/2022

After the expansion, Stock Connect is expected to include stocks that account for more than 80 percent of equity trading in each market.

Capital / Liquidity

BNM Consults on Capital Requirements for CCP Exposures

19/12/2022

Proposed framework sets out requirements for managing risks arising from a financial institution’s exposures to CCPs in their capacity as a clearing member or a client of a clearing member.

ESG / Sustainability

Bangladesh Launches New Refinance Scheme for Green Industrialisation

19/12/2022

Banks can borrow at 1% and on-lend the funds at 5%, to help borrowers finance new capital machinery and other equipment required for green industrialisation.

Fintech / Regtech

ASIFMA Asks for Changes to SEBI Cloud Adoption Framework

19/12/2022

ASIFMA says the data localisation requirements in SEBI’s new cloud adoption framework will expose FIs to greater cybersecurity risks while negatively impacting global operations.

Market Infrastructure

EU Council Agrees to Implement Global Minimum Tax

19/12/2022

The 15% corporate minimum tax rate is expected to be transposed into EU wide rules by end-2023 and prompt other countries to speed up efforts to implement the measure.

ESG / Sustainability

Malaysia Publishes ‘Climate Data Catalogue’, Identifies Data Gaps

19/12/2022

Malaysia’s JC3 says the data catalogue “represents a call to action” for stakeholders to collectively improve the availability and accessibility of climate data.

Korea to Lower Maximum Corporate Tax Rate Under Reform Plan

19/12/2022

Korea plans to lower its maximum corporate tax rate from 25% to 22% to promote investment and enhance the country’s competitiveness.