Market Abuse

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.

Structural Regulation

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.

Resolution & Recovery

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.

Cryptocurrency

EU: MiCA Vote Delayed Again Until April 2023 – Report

18/01/2023

The delay is reported to be due to technical issues associated with translating the English text into the EU’s 24 official languages.

Supervision & Enforcement

New Zealand: Cigna to Pay Biggest-ever Penalty in FMA Case

18/01/2023

Cigna increased premiums and cover for customers without being clear and transparent about the basis for the increase.

Clearing & Post-Trade

ESMA Adds TAIFEX to List of Recognised Third Country CCPs

18/01/2023

The recognition allows European financial institutions to apply the minimum risk weight of 2 percent for exposures to TAIFEX derivatives.

Fraud, Scams & Cybercrime

Singapore: Ex-Agritrade CFO Sentenced to 20 Years Jail

17/01/2023

The former CFO instructed subordinates to submit false financial statements to banks in Japan, South Korea, India and Taiwan to obtain trade financing.

Conduct, Culture & Accountability

ASIC Commissioner Steps Down Early to Join Vanguard

17/01/2023

Commissioner Sean Hughes was due to end his five-year term in December but will now stop on 3 February.

Credit Risk

China’s Bad Debt Managers to Help Finance Property Firms

17/01/2023

The PBOC will channel CNY 80 billion of loans through the bad debt managers, who are asked to match the amount with their own funds.