Crypto / Digital Assets

Bank Indonesia Outlines Plans to Commence CBDC Testing

05/12/2022

The first two phases will focus on experimentation with a wholesale CBDC. The third and final stage will involve end-to-end integration with a retail CBDC.

ESG / Sustainability

Florida to Divest $2bn from BlackRock Over ESG Objections

05/12/2022

Florida CFO Jimmy Patronis describes BlackRock’s ESG strategy as a “social-engineering project” that has “nothing to do with maximizing returns”.

Enforcement

UK Regulator Fines Barclays Over Non Transparent Card Fees

04/12/2022

Barclays was fined by the PSR for failing to give retailers full information about the costs of its card services for three years.

Crypto / Digital Assets

FTX Japan to Allow Withdrawals Starting in January

04/12/2022

Under Japanese law, crypto businesses are required to keep users’ assets segregated, shielding FTX Japan from the bankruptcy proceedings in the US.

AML / KYC

G7 Powers Set to Implement Oil Price Cap on Russian Crude

04/12/2022

EU ban on seaborne crude oil imports from Russia to take effect. G7 oil price cap will only insurers to cover vessels carrying Russian crude sold under USD 60.

Sanctions

EU Proposes to Use Russian Assets to Rebuild Ukraine

04/12/2022

Frozen Russian assets would be actively managed to generate a “stable and fair net return” to help fund reconstruction efforts in Ukraine.

Securities / Derivatives

China Targets Investment Banking Controls at Securities Firms

04/12/2022

CSRC penalises multiple securities firms. New evaluation system will lead to more intense supervision of firms with lower-quality investment banking practices.

AML / KYC

UK Sanctions 22 Russian Officials for Conscription Efforts

04/12/2022

The sanctions target officials who have promoted and enforced the conscription of citizens to fight in Russia’s “illegal war in Ukraine”.

Securities / Derivatives

JPX Acquisition to Improve English Disclosures by Listed Companies

04/12/2022

JPXI will acquire SCRIPTS Asia, which creates English transcripts of investor events held by listed companies and distributes them to domestic and overseas investors.