AML / KYC

US Bill Set to Bring Gatekeepers into Scope of AML Rules

05/07/2022

The Enablers Act would require financial advisers, lawyers, art and antiquities traders to perform due diligence on their clients and file SARs.

Crypto / Digital Assets

ANZ Completes First Stablecoin Transaction Involving Carbon Credit

05/07/2022

ANZ client Victor Smorgon Group successfully purchased tokenised Australian carbon credits from Zerocap using A$DC as a medium of exchange.

Market Infrastructure

UK FCA Consults on Remaining LIBOR Transition Steps

04/07/2022

The FCA is seeking views until 24 August on winding down synthetic sterling LIBOR and US dollar LIBOR.

AML / KYC

Bangladesh Grants Amnesty for Repatriation of Offshore Assets

04/07/2022

The government will provide amnesty for those that choose to repatriate their offshore assets to Bangladesh and pay a 7% tax.

Capital / Liquidity

HKMA Explores Use of Deep Learning for Credit Risk Assessment

04/07/2022

A trained model was able to consistently detect corporate credit deterioration at both the transaction level and aggregate level with a three-month lead time.

Fintech / Regtech

Australia Commences Roll-out of New Payments Service PayTo

04/07/2022

PayTo checks upfront for adequate funds in the paying customer’s account at payment initiation, reducing rejected payments and manual exception handling.

Securities / Derivatives

Malaysia SC Expands Tax Incentives Available to VC Firms

04/07/2022

VCCs can claim exemptions from tax on all income other than interest income from savings or fixed deposits and profits from Shariah-based deposits – for a period of up to five years.

Crypto / Digital Assets

Binance to Help Cambodia Develop Crypto Regulatory Framework

04/07/2022

Binance signed an MoU with Cambodia’s securities regulator to support the development of a legal framework for regulating digital asset businesses.

ESG / Sustainability

China Approves Launch of First Carbon Neutral ETFs

04/07/2022

Shanghai Environment Energy Exchange approved 8 carbon neutral ETFs, and NAFMII recently launched China’s first batch of interbank transition bonds.