AML / KYC

Bangladesh Banks Under Scrutiny for Alleged Loan Scams

22/12/2022

Bangladesh Bank directed five banks to submit daily reports on loan disbursements. Two of the banks have observers appointed to monitor operations.

Securities / Derivatives

Vietnam Proposes Measures to Boost Corporate Bond Market

22/12/2022

The Ministry of Finance has proposed to defer a professional-investor-only requirement, and delay a requirement for large issuers to have a credit rating.

Enforcement

US, Brazil Settle Honeywell Bribery Charges for Over $200m

22/12/2022

Manufacturing conglomerate Honeywell will pay $120mn to Brazilian authorities, $39.4mn to the DOJ, and $42.3mn to the SEC.

Capital / Liquidity

APRA to Set CCyB Default Rate at 1pc from 1 Jan 2023

22/12/2022

The CCyB default rate in Australia has been set at zero percent of risk-weighted assets since it was introduced in 2016.

Securities / Derivatives

SEBI Considering Allowing Listings by ‘Micro REITs’

22/12/2022

Micro REITs will be allowed to hold just a single asset or a diversified portfolio, to provide easier access to retail investors.

Crypto / Digital Assets

HKMA Intends to Implement BCBS Cryptoasset Standards

22/12/2022

The HKMA plans to implement the Basel standards on the treatment of cryptoasset exposures locally by 1 January 2025, in accordance with the BCBS timetable.

ESG / Sustainability

EU Lawmakers Agree on Enhancements to Carbon Market

22/12/2022

The agreement, which still needs formal endorsement, will accelerate the pace at which energy-intensive companies are obligated to reduce emissions.

Enforcement

UK Regulators Fine TSB Bank Over IT Upgrade Failures

22/12/2022

An IT system upgrade in April 2018 resulted in nearly 2 million TSB Bank customers being unable to access banking services.

ESG / Sustainability

China Preparing to Issue New Rules for Green Funds – Report

22/12/2022

The new rules will require mutual funds and ETFs to have at least 60 percent of their assets in defined green investments to be eligible to be sold as green products.