Capital / Liquidity

Binance Signs Non-Binding Agreement to Acquire Rival FTX

09/11/2022

The non-binding agreement comes amid a liquidity crunch at FTX, prompted by $6bn of withdrawals in the 72 hours before Tuesday morning.

China Urges Private Investment Participation in National Projects

09/11/2022

The NDRC said it would improve the policy environment to stimulate private investment in major projects aligned with national strategies.

AML / KYC

New Zealand DIA Issues Warning to BNPL Provider Openpay

09/11/2022

Openpay failed to establish, implement, and maintain an AML/CFT programme and to adequately monitor accounts and transactions.

Enforcement

SFC Fines Asset Manager Over Discretionary Trading Controls

09/11/2022

Internal control failures were identified after a client complained that discretionary options trades fell outside the scope of the mandate.

Fintech / Regtech

New Zealand to Propose Regulatory Framework for BNPL

08/11/2022

BNPL providers will be required to conduct affordability checks on customers above a proposed value of NZD 600.

AML / KYC

GLEIF Unveils Free Tool to Automate ELF Code Assignment

08/11/2022

The machine learning tool can extract the legal form from unstructured text and automate the assignment of entity legal form codes.

Crypto / Digital Assets

Thai SEC: Revised IT Security Rules to Take Effect in July 2023

08/11/2022

The SEC has strengthened the obligations of capital markets and digital assets firms to supervise and manage the risks to their IT systems.

AML / KYC

UK Court Orders Glencore to Pay Over $300m for Africa Oil Bribes

08/11/2022

The SFO found that Glencore funnelled about $29mn worth of bribes between 2011 and 2016 to gain access to oil rights across Africa.

Capital / Liquidity

RBI Eases Requirements for Rural Banks to Offer Internet Banking

08/11/2022

The net worth requirement and net NPA eligibility criteria have been relaxed, to promote the spread of digital banking for customers in rural areas.