Enforcement

ASIC Finalises Guidance on Completing Timely Remediations

28/09/2022

ASIC says it should not have to oversee remediations in order for consumers to receive fair and timely outcomes.

Securities / Derivatives

NZ FMA Proposes to Update Guidance on Broker Obligations

28/09/2022

The FMA is proposing to update its 2014 guidance to align with regulatory updates and incorporate additional guidance for custodians.

HKMA Launches Enhanced Competency Framework on Compliance

28/09/2022

The ECF-Compliance establishes a set of common and transparent competency standards for practitioners working in banks’ compliance functions.

ESG / Sustainability

International Committee to Create Public Utility for Net-Zero Data

28/09/2022

International organisations and policymakers will work alongside financial data service providers to help bring the utility to fruition.

Crypto / Digital Assets

Korea Has Seized $182m in Crypto from Tax Delinquents

27/09/2022

The largest seizure from a single delinquent taxpayer was worth around KRW 12.5 billion, or about USD 8.8 million.

CBIRC Relaxes Rules on Non-Capital Bond Issuance by Banks

27/09/2022

The requirement for banks to seek approval for individual issuances of non-capital bonds is removed. Qualifications of senior executives also no longer need approval.

Market Infrastructure

SEBI Orders Separation Between CRAs and Non-Rating Affiliates

27/09/2022

Credit rating agencies are directed to strengthen their internal firewalls and formulate a policy on their separation/firewall practices by January 2023.

ESG / Sustainability

APAC Study Group Publishes Transition Finance Guidance

27/09/2022

Lenders should assess whether financed projects meet ICMA’s transition finance criteria and align with sectoral pathways identified by government or other globally recognised bodies.

China Construction Bank to Set Up Fund to Buy Property

27/09/2022

The CNY 30 billion fund will be used to buy property from developers and turn them into rental housing, supporting efforts to contain China’s real estate crisis.