Enforcement

Seoul Court Declares Lime Asset Management Bankrupt

23/02/2022

Investors lost an estimated KRW 1.7 trillion. Lime Asset Management has a reported KRW 520 billion in debt, compared to just KRW 19 billion in assets, which will be liquidated.

Big Picture

GFMA Paper Outlines Benefits and Challenges of Wholesale CBDCs

23/02/2022

A wholesale CBDC must be crafted with public and private sector collaboration. Implementation timelines should be set cautiously.

China: Banks, SOEs Ordered to Report on Ant Group Exposures

23/02/2022

China’s National Audit Office, the CBIRC and other authorities have reportedly asked SOEs and banks to report on their exposures to Ant, its subsidiaries and its shareholders.

FSB Seeks Market Views on Resolving Debt Overhang Issues

23/02/2022

Debt overhang of corporates could create a drag on economic recovery of jurisdictions and pose risks to financial stability, the FSB says.

Enforcement

Australian Court Orders Super Trustee to Pay A$20m

22/02/2022

Aware Financial Services Australia charged over 25,000 customers over AUD 50 million in fees for financial services it did not provide.

Securities / Derivatives

Hang Seng Indexes Company Proposes to Create New China Index

22/02/2022

The proposed index would be comprised of HSCEI constituents as well as some A-shares, according to the consultation paper.

Capital / Liquidity

Bank Liquidity Has Improved Amid Pandemic: BCBS

22/02/2022

Capital shortfalls for the final Basel III requirements are at a historically low level, due at least in part to capital distribution constraints during the pandemic.

Market Infrastructure

Japan FSA to Inspect FIs for Cybersecurity Effectiveness

22/02/2022

The FSA will carry out inspections to verify the effectiveness of cyber security systems at FIs. Common issues and good practices identified will be shared with the industry.

AML / KYC

US Imposes Sanctions Against ‘Breakaway’ Regions in Ukraine

22/02/2022

The sanctions come after Russian President Vladimir Putin signed a decree recognising two regions in eastern Ukraine as independent.