Enforcement

Allianz to Pay $6bn to Settle Investor Fraud Cases

18/05/2022

Allianz Global Investors admitted that it violated the federal securities laws, and is disqualified from providing advisory services to US funds for ten years.

Market Infrastructure

Tokyo Bourse to Pilot Carbon Market in September

17/05/2022

The TSE has been commissioned to develop Japan’s first carbon credits market. Full-scale operations will be launched in FY2023-2024.

AML / KYC

US Treasury Outlines Plans to Combat Illicit Finance

17/05/2022

Treasury highlighted efforts to address illicit finance risks associated with shell companies, all-cash real estate purchases, and virtual assets.

Crypto / Digital Assets

South Korea to Enact ‘Digital Assets Basic Act’ in 2023

17/05/2022

More banks will be able to offer services to crypto investors. The Bank of Korea Act will be revised to allow CBDC introduction.

Market Infrastructure

HKEX Sets 13 June Launch Date for New VaR Platform

17/05/2022

The VaR Platform will replace the existing flat-rate model for calculation of margin and HKSCC Default Fund contributions.

AML / KYC

NSW Ministers Working on New AML Laws – Report

17/05/2022

The NSW attorney general and police minister are working on new laws to tackle unexplained wealth and organised crime.

China Lowers Mortgage Rates for First-home Buyers

17/05/2022

The move is designed to revive the property market. Last week banks were also directed to adjust how they set deposit rates.

AML / KYC

HK Police Arrest 17 for Using Virtual Banks to Launder Money

16/05/2022

The syndicate members processed the funds through more than 20 online bank accounts since 2021, police said.

Fintech / Regtech

FASB Commences Review of Accounting Rules for Digital Assets

16/05/2022

Crypto industry participants as well as ISDA are calling for the FASB to allow digital assets to be recorded on financial statements at fair value.