AML / KYC

USCC Calls for Formation of China Sanctions Planning Committee

17/11/2022

Congressional advisory body USCC says a new committee should be formed to develop options to respond to possible hostile action by China against Taiwan.

Fintech / Regtech

HKMA Revises Guidance on Accessing CCRA Database via CDI

17/11/2022

Banks can access commercial credit reference agencies via the CDI to automate credit approval processes, reduce manual handling, and enhance operational efficiency.

Enforcement

FSS Instructs BNK Kyongnam Bank to Compensate Lime Investors

17/11/2022

The FSS determined that BNK Kyongnam Bank should provide 65 to 75 percent compensation to two investors affected by the collapse of Lime Asset Management.

Big Picture

“No Simple Fix” for Corporate Bond Liquidity Issues: IOSCO

17/11/2022

IOSCO published feedback received from a review of ways to improve the functioning of and liquidity in corporate bond markets under stress.

ESG / Sustainability

Bursa Malaysia, Companies Commission Offer Boost to SMEs

17/11/2022

The collaboration includes exploring opportunities to support digital economy growth, facilitating data sharing between businesses, and advancing the ESG agenda.

Fintech / Regtech

ISLA Launches Working Group to Digitise the GMSLA

17/11/2022

The working group will initially focus on encoding the business outcomes from the ISLA Clause Library & Taxonomy into the Common Domain Model.

Crypto / Digital Assets

NYIC, US Banks Launch PoC to Test Digital Money Platform

17/11/2022

Participants include BNY Mellon, Citi, HSBC, Mastercard, PNC Bank, TD Bank, Truist, US Bank, Wells Fargo, SETL, Digital Asset, AWS, SWIFT, Sullivan & Cromwell, and Deloitte.

Market Infrastructure

IBA Confirms Plans for Cessation of USD LIBOR ICE Swap Rate

17/11/2022

Publication of USD LIBOR ICE Swap Rate “runs” for all tenors will cease immediately after the rates are published on 30 June 2023.

Fintech / Regtech

SEBI Issues New Rules for Operators of Online Bond Platforms

17/11/2022

Online bond platform providers must have a stockbroker registration certificate from SEBI and be registered with the stock exchange.