ESG / Sustainability

Global Banks Worry of Extraterritoriality in EU’s CSRD – Report

28/08/2022

CSRD is “off-putting” for banks’ clients, as it would subject foreign companies to the full set of rules if they list even a single instrument in the EU.

Big Picture

Better Governance Needed to Promote Bank Soundness: RBI

28/08/2022

A new study suggests public sector banks may need greater autonomy to improve their governance structures.

AML / KYC

BSP Calls for ‘Limited Amendment’ to Bank Secrecy Law

27/08/2022

BSP senior assistant governor Elmore Capule told a Senate Committee the BSP is looking for a “limited relaxation of the bank secrecy laws”.

Crypto / Digital Assets

Shanghai Data Exchange Opens New Board for NFT-Like Assets

27/08/2022

Digital assets that can be traded on the new board are “non-monetary assets” owned in digital form for cultural and creative purposes.

Securities / Derivatives

BOE Confirms Plans to Remove USD LIBOR Contracts from DCO

26/08/2022

The BOE will add SOFR overnight index swaps to the scope of contracts subject to the derivatives clearing obligation and remove USD LIBOR contracts in April 2023.

AML / KYC

Germany to Form New Federal Authority for Financial Crime

26/08/2022

Germany currently has more than 300 supervisors, an issue highlighted by the FATF in its latest mutual evaluation report on the country.

Market Infrastructure

US, China Nears Deal to Resolve Long-running Audit Dispute

26/08/2022

The CSRC has informed some accounting firms that US regulators may be visiting Hong Kong in September to inspect the audit records of US-listed Chinese companies.

Fintech / Regtech

RBI Releases Amex from Restrictions Imposed Last Year

26/08/2022

The restrictions imposed on Diners Club and Mastercard for violations of India’s data storage rules have also already been lifted.

Fintech / Regtech

NPCI Signs Agreement to Enable UPI Payments in UK

26/08/2022

India’s UPI-based QR code payments will be available in the UK on all of PayXpert’s android POS devices for in-store payments.