AML / KYC

FCA Fines Julius Baer UK Unit for Over ‘Corrupt’ Finders Fees

03/12/2022

Julius Baer improperly paid “corrupt” finder’s fees to a Yukos Group employee in exchange for business from the now-defunct Russian conglomerate.

Enforcement

US Financial Firms to Spend $18bn on Surveillance Tech This Year

03/12/2022

The increased spending comes after multiple financial firms were fined for failing to monitor and keep records on employees’ communications via messaging apps.

Big Picture

IOSCO Offers Guidance to Regulators on Investor Education, Protection

03/12/2022

IOSCO report proposes seven sound practices for regulators to consider when designing financial and investor education initiatives, particularly during periods of crisis.

Market Infrastructure

China to Pilot Commercial Pensions to Supplement New Private Pension Scheme

03/12/2022

China launched its private pension scheme in 36 cities on 25 November. Commercial pension trials will start in 10 cities on 1 January.

ESG / Sustainability

ASIC Fines Vanguard Australia for ‘Greenwashing’ in Funds

02/12/2022

Vanguard’s exclusion was meant to prevent investment in companies that sell tobacco products, but its screen only excluded manufacturers and not sellers.

Market Infrastructure

CSRC Lifts Equity Financing Ban for Property Firms

02/12/2022

The CSRC is allowing listed developers to conduct equity financing, mergers and acquisitions, corporate restructurings, private share placements, and overseas fundraising.

Capital / Liquidity

APRA Pledges to Minimise Burden of New Data Collections

02/12/2022

APRA says it is committed to “early and frequent” engagement with the industry on its new data collections, what it calls a “co-design approach”.

Crypto / Digital Assets

DTCC Publishes Findings from Experimental CBDC Work

02/12/2022

The prototype developed was able to connect two distinct asset networks to enable “secure, resilient, and efficient security settlement with CBDC.”

Capital / Liquidity

BOJ Relaxes Terms of Securities Lending Facility

02/12/2022

The move is aimed at ensuring stability in the market and easing tight JGB liquidity in the repo market.