Securities / Derivatives

SEBI Proposes to Prevent Brokers from Holding Client Funds Overnight

07/02/2023

SEBI proposes to require trading and clearing members to move all client funds to clearing corporations at the end of each trading day to prevent broker misuse.

NZ FMA Offers Guidance on Providing Investment Advice

07/02/2023

The guidance focuses on situations where it is difficult or impractical to access information to support reasonable grounds for financial advice on an investment product.

Crypto / Digital Assets

FASB to Propose New Crypto Accounting Standard in March

07/02/2023

An exposure draft to be issued by end-March will require companies to measure crypto assets using fair value accounting.

AML / KYC

FATF Publishes Annual Report for 2021-2022

07/02/2023

The report sets out the achievements of the FATF under the second year of Marcus Pleyer’s Presidency.

Big Picture

FSDC Paper Sets Out Key Factors to Facilitate VCM Growth

07/02/2023

FSDC paper discusses key considerations that would be conducive to the development of Hong Kong’s VCM ecosystem.

Market Infrastructure

BI Starts Publishing Compounded IndONIA and IndONIA Index

06/02/2023

The publication of Compounded IndONIA and IndONIA Index is aimed at encouraging greater use of IndONIA in financial products.

Sanctions

OFAC Sanctions Eight Executives of Iranian Drone Maker

06/02/2023

The US has issued five rounds of designations of individuals and entities involved in transferring drones to Russia for use in Ukraine.

AML / KYC

SFC Seeks Early Submission of Data Required Under HKIDR

06/02/2023

Intermediaries are asked to submit their BCAN-CID Mapping Files as soon as possible to ensure sufficient time to verify the data and rectify any errors.

AML / KYC

New Report Calls for Global Action to Address TBML

06/02/2023

Recommendations include the use of education campaigns, inter-agency task forces, beneficial ownership registries, and new technologies to assess trade pricing.