Bangladesh Seeks IMF Loan, Takes Measures to Boost FX Inflows

03/08/2022

Bangladesh has sufficient FX reserves for over five months of imports, providing some cushion. It has also taken measures to address its falling FX reserves.

Securities / Derivatives

Taiwan FSC Tightens Rules for Senior Securities, Futures Personnel

03/08/2022

The rules are aimed at preventing directors from taking on positions at other firms that could affect their performance or create conflicts of interest.

AML / KYC

Moscow Exchange Commences Trading in First Yuan Bonds

03/08/2022

Yuan-denominated bonds will open up an additional source of FX liquidity for Russian borrowers, who have been cut off from the dollar, euro and other foreign currencies.

AML / KYC

US Imposes New Round of Sanctions Against Russia

03/08/2022

The sanctions target Kremlin-connected elites, including retired Olympic gymnast Alina Kabaeva, who is understood to be Putin’s girlfriend.

Market Infrastructure

Guidance Issued for US Transition to T+1 Securities Settlement

02/08/2022

DTCC, SIFMA  and ICI have published guidance to help market participants prepare for the US transition to a T+1 securities settlement cycle in 2024.

Enforcement

Banks Preparing to Pay Fines for Use of Messaging Apps

02/08/2022

US regulators are expected to announce penalties in the coming weeks over the use of unauthorised messaging apps for business communications.

ESG / Sustainability

Data with Destiny: Bridging Asia’s ESG Information Gap

02/08/2022

While there has been a surge of data disclosure in Asia, the lack of a unified set of rules across the region opens the door for inconsistencies.

AML / KYC

Korea FSS Completes Woori Bank Embezzlement Inspection

02/08/2022

The inspection found that the amount embezzled was more than originally reported, and the Woori had insufficient internal controls in place.

Big Picture

CPMI Explores Options, New Solutions to Increase PvP Adoption

02/08/2022

CPMI received “numerous promising proposals” for new solutions that may be capable of processing FX transactions that currently settle on a non-PvP basis.