AML / KYC

Korea to Require Overseas Crypto Exchanges to Register with KoFIU

14/07/2021

Cryptocurrency exchanges based outside Korea would be required to register with KoFIU if they use the Korean won for settlement.

AML / KYC

New Zealand to Update AML/CFT Regulations

14/07/2021

Reporting entities will have to conduct customer due diligence on nominee directors and nominee general partners of companies, among other changes.

Capital / Liquidity

New Standard Published to Assess Islamic Deposit Insurance Systems

14/07/2021

The IADI and IFSB have developed a set of core principles that can be used to develop and assess the effectiveness of Islamic deposit insurance systems.

AML / KYC

Malaysia Files Suit Against KPMG Partners Over 1MDB Losses

13/07/2021

The Malaysian government and 1MDB filed a $5.64bn lawsuit against 44 current and former KPMG partners over the firm’s audits of 1MDB’s financial statements.

Market Infrastructure

HKMA Asks Banks to Bolster Corporate Awareness of LIBOR Cessation

13/07/2021

Banks are asked to distribute a leaflet to all corporate customers by 31 July 2021 and to send confirmation to the HKMA after the exercise is complete.

Big Picture

Multilateral Collaboration Essential for CBDC Development

13/07/2021

A new report from CPMI, BIS Innovation Hub, the IMF and the World Bank highlights the need for multilateral collaboration and interoperability between CBDCs.

ESG / Sustainability

International Organisations to Launch Climate Training Alliance

12/07/2021

The initiative will see the establishment of a dedicated online portal for global training on climate risks for central banks and supervisors.

Enforcement

RBI Penalises Fourteen Banks Over NBFC Lending

12/07/2021

The banks include Credit Suisse, Central Bank of India, SBI, Bank of Baroda, Bank of Maharashtra, IndusInd Bank, and Indian Bank, among others.

Securities / Derivatives

Korean Won Futures Set for Launch on Eurex-KRX Link

12/07/2021

The listing of USD/KRW Futures on the KRX-Eurex link will allow for continuous trading during Asian, European and North American market hours.