Bangladesh Moves Towards Market Based Exchange Rates

02/06/2022

A policy requiring banks to quote uniform rates has been abandoned. Banks can base their FX rates on supply and demand.

SAFE Allows High-tech Firms to Increase Overseas Borrowing

02/06/2022

High-tech companies in 17 provinces/cities can borrow funds from overseas to finance R&D and accelerate their development.

Crypto / Digital Assets

UnionBank Issues Philippines’ First DLT-based Digital Bond

02/06/2022

The issuance follows a POC project to optimise bond issuance workflows between STACS and PDTC, the Philippines’ national CSD for debt and equities.

Crypto / Digital Assets

Ex-OpenSea Employee Charged for Insider Trading in NFTs

02/06/2022

The former product manager traded on confidential information about which NFTs were going to be featured by OpenSea’s website.

ESG / Sustainability

NZ XRB Publishes Directors’ Guidance on Climate Disclosures

02/06/2022

The guide outlines key considerations and best practice areas for directors to consider as they prepare for New Zealand’s climate-related disclosures framework.

Fintech / Regtech

SGX CDP Enables Access to DLT Bond Issuance Platform

02/06/2022

CDP has made available to market participants a blockchain-enabled bond issuance platform developed by Marketnode, a joint venture between SGX and Temasek.

Crypto / Digital Assets

UK Proposes Framework for Dealing with Stablecoin Failures

02/06/2022

HM Treasury proposes to give the BOE powers to appoint administrators to oversee insolvency arrangements with failed stablecoin issuers.

AML / KYC

More Chinese Firms Fall Under India Probe for ‘Irregularities’

02/06/2022

The MCA says it has received information that indicates potential violations including fraud by Chinese companies operating in India.

Enforcement

AFCA to Start Using New Funding Model from 1 July

01/06/2022

The new user-pay model will reward good performance and early resolution while apportioning fees fairly based on the actual use of AFCA’s services.