DeFi & Web3

BIS, HKMA to Explore Use of DeFi Tools for SME Finance

18/09/2022

Project Dynamo will study whether and how DeFi tools such as blockchain and smart contracts can improve access to finance for SMEs.

Trading & Investment

CSRC Approves First Batch of Shanghai STAR Market Makers

18/09/2022

The first batch of market makers includes Huatai Securities, Guosen Securities, Orient Securities and China Securities.

Conduct, Culture & Accountability

SEBI Issues Directions on Circulation of Market Rumours

18/09/2022

Intermediaries are required to prevent rumours and unverified information from being circulated via blogs, chat forums, and messenger sites.

PEPs & Sanctions

OFAC Issues Guidance on Transacting With Tornado Cash

18/09/2022

US persons may request a specific licence from OFAC to complete transactions involving sanctioned crypto mixer Tornado Cash.

Anti-Money Laundering

Bangladesh Considers Introducing Market-based FX Rates

18/09/2022

Recent rate fixing is called “discriminatory” against exporters. A new legal framework is being set out to facilitate the confiscation of unreported offshore assets.

Anti-Money Laundering

Puerto Rico Authority Agrees on Liquidation of Euro Pacific Bank

17/09/2022

Euro Pacific Bank customers will recoup 100 percent of their deposits. Several hundred investigations are still underway globally over whether the bank was used for tax evasion.

Trading & Investment

BSP Amends Rules for Unit Investment Trust Funds

17/09/2022

Trust entities seeking to create certain types of unit investment trust funds for the first time will be required to secure BSP approval.

Conduct, Culture & Accountability

Australia: FPA Adopts Simplified Professional Conduct Code

17/09/2022

A key element underpinning the new FPA Code is that members’ actions should promote a culture that “supports and requires integrity in others”.

Credit Risk

Vietnam: SBV Grants Banks Additional Credit Growth Quotas

17/09/2022

Vietcombank and Agribank were among those granted higher credit growth rate quotas, amid growing calls for the mechanism to be scrapped altogether.