Securities / Derivatives

CSRC Proposes to Relax Restrictions on Share Buybacks

18/10/2022

The rule changes relax some restrictions on share buybacks, enabling listed companies to better support their stock prices.

ESG / Sustainability

SEBI Sets Out Governance Requirements for Social Stock Exchanges

18/10/2022

A seven-member governing council must be constituted before SEBI will grant final approval for the launch of a social stock exchange.

China Directs CPAs to Target Financial Fraud in Audits

18/10/2022

CPAs and accounting firms are directed to identify and fix weak links in their audit processes, and improve their ability to deal with financial fraud.

RBNZ Concludes First Consultation on Monetary Policy Remit

18/10/2022

Many respondents felt climate change should not be included in monetary policy decision-making, and that the RBNZ should increase its emphasis on price stability.

Securities / Derivatives

RBI Directs Bank to Reduce Activity in Offshore Rupee Market

18/10/2022

The RBI started allowing local banks to participate in the NDF market in 2020, but their activity is adding further downward pressure on the rupee.

Fintech / Regtech

HK Consumer Council Warns of Inadequate BNPL Protections

18/10/2022

The Consumer Council is calling on non-bank BNPL service providers to apply for a Money Lenders Licence and to implement consumer protection measures “as soon as possible”.

AML / KYC

NSW Regulator Imposes Max Penalty on Casino Giant The Star

18/10/2022

Casino giant The Star has been fined A$100mn and had its licence in NSW suspended due to its failure to prevent money laundering at its Sydney casino.

AML / KYC

Japan Cabinet Passes Bill to Strengthen AML System

18/10/2022

Crypto exchanges will be obliged to share information on users and screen customers against sanctions lists.

AML / KYC

HSBC Suspends Investment Services for Russian Clients in Hong Kong

18/10/2022

HSBC has reportedly sent a letter to most of its Russian retail clients in Hong Kong saying it is unable to provide them investment services because of sanctions imposed by the EU.