Australia to Reverse Regulations for Litigation Funders

09/09/2022

Litigation funding schemes will regain exemptions from requirements to hold an AFS licence and be subject to the same regulations as managed investment schemes.

Capital / Liquidity

Korea FSS Conducting Daily Checks on Bank FX Liquidity

09/09/2022

While foreign currency liquidity levels at local banks have remained high, the FSS wants to be able to detect signs of a future liquidity shortage early.

HKMA Launches Online Resource for Aspiring Bankers

08/09/2022

The new platform, Banking GPS, provides information on major bank functions and job openings, tips on job-hunting, and experience sharing from practitioners.

Securities / Derivatives

CPMI, IOSCO Consider Ways to Boost Client Clearing Access

08/09/2022

Practices to facilitate porting need to be further developed to ensure clients can continue to access clearing in the event of an intermediary default.

Securities / Derivatives

FSC Korea to Revise Rules for Issuing Convertible Preference Shares

08/09/2022

The revisions follow rule changes made last year to prevent convertible bonds from being used to unfairly dilute small shareholders.

Crypto / Digital Assets

Australia Clarifies Crypto is Not Taxed as Foreign Currency

08/09/2022

The proposed legislation removes uncertainty regarding whether Bitcoin may be treated as a ‘foreign currency’ for income tax purposes.

Market Infrastructure

CPMI Offers Central Banks Guidance on Liquidity Bridges

08/09/2022

Central bank liquidity bridges can reduce FX, credit, financial stability risks, and enhance cross-border payments by reducing funding costs.

Securities / Derivatives

HKEX to Enhance Obligations for Stock Options Market Makers

08/09/2022

A first phase of enhancements will take effect on 31 October 2022. A second phase will be implemented in H1 2023, subject to market readiness.

Crypto / Digital Assets

Thai SEC Advances Work to Revamp Rules for Crypto Firms

08/09/2022

The SEC will appoint a working group to consider amendments to the regulatory framework. Separately, it has filed a police complaint against Zipmex.