AML / KYC

Banks Should Use CDI to Streamline KYC, Credit Processes: HKMA

16/02/2023

Banks with material SME business are expected to complete their technical connection to the CDI and CCRA@CDI before the end of this year.

Crypto / Digital Assets

CME to Launch Event Contracts on Bitcoin Futures

16/02/2023

The new event contracts will provide a highly transparent and less complex way for investors to access crypto markets, said Tim McCourt.

ACCC Launches Inquiry into Bank Rate-Setting Practices

16/02/2023

The ACCC said banks have in most cases “fully passed” through interest rate hikes to their home loan rates, but less so to interest rates on deposit products.

Market Infrastructure

US SEC Sets May 2024 Target for Move to T+1 Settlement Cycle

16/02/2023

SEC commissioners Hester Peirce and Mark Uyeda say the 28 May 2024 effective date does not leave enough time for the market to transition.

NZ FMA Finalises New Reporting Requirements for Advisers

16/02/2023

The FMA said the first regulatory returns will be due by 30 September 2024, for the 12-month period ending 30 June.

Crypto / Digital Assets

US SEC Proposes to Tighten Custody Rules Including for Crypto

15/02/2023

The proposed change is expected to make it more difficult for asset managers to invest in crypto assets on behalf of clients.

Market Infrastructure

ASIC to Modify Scope of Clearing Derivatives Obligation

15/02/2023

ASIC proposes to replace products referencing USD LIBOR with OIS contracts referencing SOFR, and to remove AUD forward rate agreements.

Securities / Derivatives

CSRC Seeks Assurances from Warburg Pincus for Local Acquisition

15/02/2023

Warburg Pincus is planning to acquire a 23.3 percent stake in Zhong Ou Asset Management Co from Italy’s Intesa Sanpaolo.

ESG / Sustainability

Singapore Taskforce Issues Final Consultation on Green Taxonomy

15/02/2023

This third consultation seeks views on thresholds and criteria for five sectors. GFIT intends to publish the final taxonomy by 1H 2023.