Market Infrastructure

FSB Urges Adoption of LEI in Cross-border Payments

10/07/2022

Using the LEI in cross-border payments could facilitate straight-through processing, reduce costs, increase transaction speeds, and facilitate KYC compliance.

Capital / Liquidity

RBI Announces Measures to Cushion Falling Rupee

09/07/2022

The RBI has exempted FPIs from a cap on investments in government securities and corporate bonds. FPIs can also buy short-duration corporate debt.

AML / KYC

Chinese Phonemaker Vivo Accused of Evading Tax in India

09/07/2022

Vivo is alleged to have made remittances via Hong Kong to China to disclose losses in India and avoid domestic tax payments.

Securities / Derivatives

Bursa Malaysia Announces Launch of Shariah Discretionary Trading

09/07/2022

Discretionary trading based on Shariah principles is now permitted at Bursa Malaysia. Malacca Securities is the first to offer the service.

Bangladesh Imposes 100pc Margin Requirement on Luxury Imports

09/07/2022

Banks may not lend importers funds to meet the 100 percent LC margin requirement, which applies to a broad range of luxury imports.

Enforcement

FSC Korea Penalises Shinhan Bank for Lime Fund Mis-selling

08/07/2022

Shinhan Bank is being suspended for three months from selling new private equity fund products and fined KRW 5.7 billion.

Crypto / Digital Assets

Crypto Firm Voyager Digital Files for Bankruptcy, FDIC Opens Probes

08/07/2022

Voyager previously used wording on a company web page implying that deposit protection could apply in the event of the company’s own failure.

Capital / Liquidity

HKMA Consults on Implementation of Basel III Reforms

08/07/2022

The proposed amendments relate to the implementation of Basel III final reform package, specifically in relation to credit risk and the output floor.

Market Infrastructure

FSB Advances Work on G20 Cross-border Payments Roadmap

08/07/2022

The FSB has proposed KPIs and data sources for monitoring progress toward quantitative global targets for addressing the challenges faced by cross-border payments.