AML / KYC

Cayman Islands Proposes Beneficial Ownership Transparency Bill

04/09/2023

Public access to the beneficial ownership register will be enabled, but only after there is clarity on the effect of the CJEU’s November 2022 ruling.

Capital / Liquidity

PBOC Cuts FX Reserve Requirement, Eases Mortgage Policies

04/09/2023

The measures are part of efforts to support the economy, the property sector, and the Chinese yuan.

ESG / Sustainability

Korea Goes Live With ESG Ratings Best Practice Guidelines

01/09/2023

Three ESG rating agencies have adopted the guidelines, and launched a new self-regulatory body for Korea’s ESG evaluation market.

AML / KYC

MAS Offers New Guidance on BO Identification, Complex Structures

01/09/2023

MAS inspections found “executional lapses” in this area as a result of “weak oversight” and “lack of risk awareness and vigilance”.

Capital / Liquidity

HKMA Consults on New Resolution Planning Guidance

01/09/2023

The guidance focuses on the measures banks should have in place to ensure continuity of access to FMI services in a resolution scenario.

AML / KYC

MAS Issues Additional Guidance on Managing Sanctions Risk

31/08/2023

The guidance covers board and senior management responsibilities and the use of look-back reviews of past transactions.

AML / KYC

Switzerland Proposes Strengthening of AML Framework

31/08/2023

The proposed framework would enhance beneficial ownership transparency and make lawyers, consultants and accountants responsible for AML checks.

Market Infrastructure

HK Clearing Rules Updated to Account for Benchmark Reforms

31/08/2023

The clearing obligation will no longer apply to transactions referencing LIBOR and EONIA, which have been discontinued.

Crypto / Digital Assets

SFC Grants In-Principle Approval to Swiss Crypto Bank, SEBA

30/08/2023

SEBA plans to offer brokerage, advisory and asset management services in Hong Kong, covering securities, derivatives and crypto products.