Enforcement

CBIRC Vows to Continue Efforts to Prevent, Resolve Financial Risks

07/02/2022

The CBIRC said it will dismantle “high-risk shadow banks”, and crack down on illegal financial and fundraising activities, unfair competition, and unlicensed financial businesses.

Securities / Derivatives

Thailand Allows Fractional Trading in Depositary Receipts

07/02/2022

Rule revisions approved by the SEC amend the criteria for depositary receipts linked to overseas underlyings so that they do not have to be traded in whole number units.

Market Infrastructure

Australia: Senate Committee Recommends Quick Passage of CCIV Bill

07/02/2022

The Senate Economics Committee acknowledged “overwhelming support” for the CCIV legislation and recommended it be passed “as soon as practicable”.

Enforcement

US DOJ Probes for Criminal Abuses by Known Short Sellers

07/02/2022

The DOJ is reportedly seeking records from almost 30 investment and research firms to map out their alliances and determine whether they manipulated markets or broke securities laws.

Enforcement

Taiwan Allows Deutsche Bank to Resume FX Derivatives Trading

07/02/2022

Last February, Deutsche Bank’s Taipei branch was banned from trading TWD forwards and suspended for two years from trading FX derivatives.

Fintech / Regtech

Myanmar Military Government Seeks to Launch Digital Currency

07/02/2022

Myanmar’s military regime is reportedly considering issuing a digital currency as a joint venture with local companies.

AML / KYC

AUSTRAC Issues Guidance on Identifying Forced Sexual Servitude

07/02/2022

New financial crime guide provides practical advice to enable banks, businesses, and other FIs to identify and report potential cases of forced sexual servitude.

Enforcement

MAS Imposes Capital Surcharge on DBS for November Outage

07/02/2022

DBS has to hold SGD 930 million in additional regulatory capital until MAS is satisfied that it has addressed all shortcomings identified by an independent reviewer.

Market Infrastructure

ESMA Launches New Register for Simple Securitisations

07/02/2022

The new register provides originators and sponsors an enhanced notification system and assists investors in performing due diligence.