Market Infrastructure

ESMA Adds TAIFEX to List of Recognised Third Country CCPs

18/01/2023

The recognition allows European financial institutions to apply the minimum risk weight of 2 percent for exposures to TAIFEX derivatives.

Enforcement

Singapore: Ex-Agritrade CFO Sentenced to 20 Years Jail

17/01/2023

The former CFO instructed subordinates to submit false financial statements to banks in Japan, South Korea, India and Taiwan to obtain trade financing.

ASIC Commissioner Steps Down Early to Join Vanguard

17/01/2023

Commissioner Sean Hughes was due to end his five-year term in December but will now stop on 3 February.

China’s Bad Debt Managers to Help Finance Property Firms

17/01/2023

The PBOC will channel CNY 80 billion of loans through the bad debt managers, who are asked to match the amount with their own funds.

Crypto / Digital Assets

Chinese Securities Firm Switches on CBDC Payment Option

17/01/2023

China’s e-CNY system can also now capable handle offline payments, and “tap to pay” can function when devices are powered off.

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.