ESG / Sustainability

Australian Banks to Complete First CVA Analysis by Year-End

06/09/2021

APRA has released a new paper describing the Climate Vulnerability Assessment now underway at Australia’s five largest banks.

Crypto / Digital Assets

US SEC Charges BitConnect for $2bn Cryptocurrency Fraud

06/09/2021

BitConnect promised investors lucrative returns through the use of a proprietary trading bot, but investor funds were siphoned off by the company’s founder and others.

ESG / Sustainability

FSC Korea to Raise Penalty for Violations of Five Percent Rule

05/09/2021

The maximum fine is being raised from 1/100,000 of market cap to 1/10,000 of market cap, among other changes to the corporate disclosure rules.

Market Infrastructure

SGX Finalises Changes to Default Management Process

05/09/2021

The changes align CDP’s default management process with global practices, improve efficiency, and enable speedier resolution of any clearing member default.

Enforcement

MAS Orders Halt to Singapore Services From Binance.com

05/09/2021

Binance Asia Services, which operates Binance.sg, is a “distinct entity” and may still operate under an exemption while its licence application is under review.

BNM to Raise Standards for Bank Sales of Insurance, Takaful Products

05/09/2021

New draft rules are aimed at strengthening safeguards to ensure the delivery of better outcomes for consumers of insurance/takaful products.

Securities / Derivatives

Shanghai INE to Accept Govt Bonds as Margin Collateral

05/09/2021

Government bonds issued by the Ministry of Finance can be used as margin collateral provided they have a face value of at least CNY 1 million.

AML / KYC

SEBI Issues Guidelines on Accredited Investors Framework

05/09/2021

New circular covers eligibility criteria, validation for accreditation, the procedure to avail benefits linked to accreditation, and flexibility for investors to withdraw consent.

Fintech / Regtech

Task Force Formed to Align Digital Token Identifier With ITSA Standard

04/09/2021

The task force was formed to examine synergies between Digital Token Identifiers and the technical identifiers issued by ITSA.