Market Infrastructure

China Set Out Plan to Develop Data Security Industry

18/01/2023

As part of the plan, FIs will be encouraged to invest in the field of data security and provide convenient and efficient financial services to the sector.

Securities / Derivatives

Deutsche Bank Issues First Panda Bond in China for 2023

18/01/2023

The panda bond is the first since the introduction of new rules that allow foreign issuers to freely use the proceeds overseas without restriction.

AML / KYC

HK Customs “Smashes” Syndicate That Laundered HK$6b

18/01/2023

A money laundering operation centre was being run from an apartment at a large private housing estate. The syndicate was “successfully smashed”.

Capital / Liquidity

ECB Identifies Weak Risk Management at EU Banks

18/01/2023

The ECB identified “material shortcomings” in how banks manage counterparty credit risks. Banks should “promptly address weaknesses”.

AML / KYC

UK Linked ‘Golden Visas’ to Crime Years Ago

18/01/2023

A review commissioned in 2018 and “kept secret for years” found a disproportionate number of golden visa applicants were from countries identified as high risk.

Fintech / Regtech

China Releases New Data Standards for Public Fund Disclosures

18/01/2023

Funds should use technology to standardise and digitise disclosures of information on publicly-offered securities investment funds.

Enforcement

Korea: Tougher Penalties for Unfair Trading Expected Within H1

18/01/2023

Those engaged in unfair trading activities would face either a prison sentence of at least one year or a fine of between three and five times profits.

Securities / Derivatives

SEBI Proposes to Allow PE Funds to Sponsor Mutual Funds

18/01/2023

The changes will draw fresh capital into the fund industry, encourage more competition, and allow easier exits for existing sponsors.

Capital / Liquidity

Chinese D-SIBs Have $550bn TLAC Shortfall: S&P Global Ratings

18/01/2023

Under rules released in 2021, China’s four G-SIBs will have to hold TLAC equal to 16 percent of their risk-weighted assets by 1 January 2025.