Fintech / Regtech

Bank of Korea CBDC Pilot to Kick off This Month

09/08/2021

Ground X, Kakaobank, Kakao Pay, Consensys, Samsung and Onther are among the firms that will participate in the pilot. Phase one will be complete by December.

UPDATED – RBI Extends Deadline for Current Account Restrictions

09/08/2021

The extension is being provided to ensure customers are “not put to undue inconvenience during the implementation process”.

Securities / Derivatives

JP Morgan Approved to Take Full Ownership of China Securities Unit

08/08/2021

JP Morgan already had a controlling stake in the unit. The new approval makes it the first foreign firm to fully own a securities venture in China.

Securities / Derivatives

Hong Kong ICAC Charges Securities Brokers for Bribery

08/08/2021

Two securities brokers accepted commissions to arrange for their clients to use a futures trading programme provided by a software company.

Market Infrastructure

LCH Set to Switch Discounting, PAI Rate from SOR to SORA

08/08/2021

LCH is switching its discount curves and PAI rate on SGD-denominated cleared swaps from SOR to SORA on 9 August.

Market Infrastructure

China: New Rules Issued to Address Unreliable Bond Ratings

08/08/2021

The rules require credit rating agencies to strengthen their methodologies and systems, improve corporate governance, and avoid conflicts of interest.

Securities / Derivatives

CSRC Allows Fidelity to Set up China Retail Fund Business

08/08/2021

Fidelity has become the second global asset manager to receive approval to set up a fully-owned mutual fund business after BlackRock.

AML / KYC

US DOJ Repatriates Additional $452bn in 1MDB Funds to Malaysia

08/08/2021

The total funds belonging to 1MDB that have been returned to date amount to over $1.2bn, the DOJ said in a statement.

AML / KYC

SEBI Allows Indian Fund Managers to Participate in FPIs

07/08/2021

KYC norms that required FPIs and institutional investors to disclose their personal information to SEBI have also been relaxed.