Conduct, Culture & Accountability

SFC Fines Brokerage for 2015 System Testing Incident

14/03/2023

I-Access Investors incorrectly used data from system testing as production data and inadvertently triggered 27 stop loss sell orders by 12 clients.

Trading & Investment

ISLA Releases New Templates for GMSLA Documentation

14/03/2023

ISLA and Linklaters collaborated to develop new GMSLA templates, covering default events, termination notices, and amendment agreements.

Resolution & Recovery

HSBC Acquires Silicon Valley Bank’s UK Unit for £1

14/03/2023

HSBC expects the deal to be profitable, strengthen its commercial banking franchise, and enhance its ability to serve innovative firms.

Structural Regulation

LBMA to Probe Perth Mint ‘Gold Doping’ Allegations

14/03/2023

Adverse findings under LBMA’s incident review process can result in refiners being struck off the Good Delivery List.

Sustainable Finance

PRI Identifies Demand for Sustainable Finance Taxonomy in Japan

14/03/2023

PRI survey identified “substantial demand” from investors for some form of comprehensive sustainable finance taxonomy for Japan.

PEPs & Sanctions

Cuban Banks Have Adopted Russia’s Mir Card Scheme

14/03/2023

ATMs now display the logo of the Mir payment system and provide an option to withdraw funds in Cuban pesos from cards issued by Russian banks.

Stablecoins

NAB Completes First Cross-border Stablecoin Transaction

14/03/2023

NAB expects to be supporting select corporate and institutional clients to transact using digital assets by the end of 2023.

Reporting & Disclosures

Record Number of FIs Seeking Environmental Disclosures Via CDP

14/03/2023

CDP’s annual disclosure request this year is on behalf of 746 FIs across 40 countries. Firms are asked to disclose on plastics for the first time.

Fraud, Scams & Cybercrime

Chinese Bourses Look to Tech to Combat Fraud in Markets

13/03/2023

The SZSE has been testing technology from an analytics firm to detect fraud and vet listings, while the SSE is proposing the use of big data and AI.