Crypto / Digital Assets

Korean National Assembly to Question Crypto Execs on Terra

02/10/2022

TerraForm Labs accuses Korean prosecutors of overreach. Luna Foundation Guard money allegedly transferred overseas.

ESG / Sustainability

ISDA Analyses Regulatory Treatment of SLDs in Hong Kong

02/10/2022

The paper considers how SLDs would be classified and regulated, and the compliance issues for market participants to consider when executing SLDs.

AML / KYC

US Sanctions Asia Firms for Facilitating Iranian Oil Sales

01/10/2022

The US designated companies based in China, the UAE, Hong Kong and India. Separately, Canada plans to sanction Iran’s “morality police”.

Market Infrastructure

New Zealand Consults on Regulations to Support CoFi Regime

01/10/2022

Two consultations have been issued, including an exposure draft on regulations defining prohibited volume-based sales incentives.

AML / KYC

UK FCA Grants Revolut Approval to Offer Crypto Services

01/10/2022

Revolut was allowed to remain on a temporary register after a March deadline for approvals until its application was fully processed.

PBOC Launches Relending Facility for Equipment Upgrades

30/09/2022

The re-lending facility will provide low-cost funding for loans issued to support equipment upgrades, digital transformation and renovations by businesses.

Securities / Derivatives

SEBI Issues New Rules for Ratings of Credit-enhanced Securities

30/09/2022

The rules require CRAs to make certain disclosures and conduct independent due diligence on the nature of support provided by an external or third party.

Enforcement

Japan SESC Seeks Penalty Order Against SMBC Nikko Securities

30/09/2022

The SESC has recommended that the FSA punish SMBC Nikko Securities for stock price manipulation and shortfalls in its trading surveillance system.

AML / KYC

FinCEN Issues Final Rule for Beneficial Ownership Reporting

30/09/2022

The rule is effective from 1 January 2024. Existing companies will have one year to report information about their beneficial owners to FinCEN.