Structural Regulation

Laos Closes All Non-State Currency Exchange Channels

29/01/2023

Currency exchange transactions in Laos can now only be done through state-run banks. The move has resulted in nationwide business disruptions.

Conduct, Culture & Accountability

Korea FSC Issues Guidelines on Employee Personal Trading

29/01/2023

Financial firms should strengthen their internal controls and pre-trade checks to ensure executives and employees are not using “borrowed” accounts for personal trading.

Market Abuse

US SEC to Prohibit Conflicts of Interest in Securitisation Transactions

27/01/2023

The rule, first proposed in 2011 but never finalised, will prohibit firms participating in asset-backed securities from betting against investors in those securities.

Fraud, Scams & Cybercrime

German Prosecutors Search BNP Paribas Offices in Cum-Ex Probe

27/01/2023

The investigation also involves searches of private residences, focusing on 58 suspects who were or are professionally active for the bank.

PEPs & Sanctions

Ex-FBI Agent Charged for Money Laundering, Sanctions Violations

27/01/2023

The former FBI agent conspired with a former Russian diplomat to help Oleg Deripaska have his sanctions removed.

Supervision & Enforcement

RBNZ Concludes Work to Enhance Enforcement Framework

27/01/2023

The framework consists of three documents setting set how the RBNZ selects matters for investigation, conducts investigations, and takes enforcement decisions.

Conduct, Culture & Accountability

Morgan Stanley Fines Staff Over Use of Messaging Platforms

27/01/2023

The penalties ranged from several thousand dollars for some staff to more than USD 1 million for others, cut from past bonuses or future pay.

Credit Risk

RBI Proposed New Securitisation Framework for Stressed Assets

27/01/2023

Banks would be able to sell stressed assets to special purpose entities that issue securitisation notes for investors to buy.

Cryptocurrency

ISDA Launches Standard Definitions for Digital Asset Derivatives

27/01/2023

ISDA says the definitions set clear provisions for execution and settlement and will help to reduce credit and market risk in digital asset trading.