Fraud, Scams & Cybercrime

Japan FSA Orders Suspension of SBI Social Lending Unit

14/06/2021

SBI Social Lending Co solicited funds from investors with false or misleading information in lending agreements.

Cloud & Infrastructure

UOB Pilots Digital Signing Capability via SingPass

14/06/2021

UOB is testing the use of GovTech’s ‘Sign with Singpass’ to allow a set of retail and corporate customers to confirm transactions and product applications.

Trading & Investment

ISDA Consults on Fallbacks for GBP & USD LIBOR ICE Swap Rates

14/06/2021

Current fallbacks are not expected to be able to function effectively upon a permanent cessation of the GBP and USD LIBOR ICE Swap Rates.

Cryptocurrency

El Salvador Becomes First Country to Allow Bitcoin as Legal Tender

13/06/2021

El Salvador president Nayib Bukele is inviting bitcoin miners to set up at a state-owned geothermal facility powered by a volcano.

Structural Regulation

Hong Kong Enacts Framework for Uncertificated Securities Market

13/06/2021

The SFC will consult the market on the subsidiary legislation in due course to prescribe the detailed rules and implementation timetable.

PEPs & Sanctions

China Passes Anti-foreign Sanctions Legislation

13/06/2021

Countermeasures can be taken against senior managers and actual controllers of firms included on the anti-sanctions list, as well as their family members.

Conduct, Culture & Accountability

Probe Finds Japan Officials, Toshiba Colluded Against Shareholders

13/06/2021

Foreign investors including Effissimo, Harvard Management Company and 3D Investment Partners were pressured to change their voting.

Structural Regulation

ASIC Extends Transitional Relief for Foreign Financial Services Firms

13/06/2021

ASIC is extending transitional relief provided under its new regulatory framework for foreign firms pending the outcome of the government’s announced reforms.

Cloud & Infrastructure

BIS, BOE Launch Innovation Hub London Centre

12/06/2021

The launch is part of a plan to expand the global reach of the BIS Innovation Hub, which includes the opening of Centres in Toronto, Frankfurt, Paris and Stockholm.