Securities / Derivatives

CFTC, SEC Preparing to Tackle More Crypto-related Risks

27/07/2022

The CFTC has a new innovation office and is realigning its customer education office. The SEC has appointed 20 new specialists to its crypto unit and wants a bigger budget.

Market Infrastructure

HKMA Gives Banks 18m to Enhance Operational Risk Management

26/07/2022

Banks are expected to implement the revised SPM module on operational risk management by 25 January 2024.

Securities / Derivatives

SFC Fines Fourth Broker Over Use of ‘Xinguanjia’ Trading Software

26/07/2022

The software enabled Mainland investors to trade in Hong Kong without having to open a local securities account. Rifa Futures was fined HKD 9 million for AML and other failures.

Crypto / Digital Assets

US DOJ Charges Ex-Coinbase Employee for Insider Trading

25/07/2022

A former Coinbase employee and two others were charged. The SEC’s parallel action classifies 9 crypto tokens as securities. Coinbase files a petition.

AML / KYC

Russia Creates Hurdles for Foreign Banks Trying to Exit

24/07/2022

Societe Generale is the only major bank that has exited Russia so far. HSBC has struck a deal to sell its Russian business but will need regulatory approval.

ESG / Sustainability

Japan FSA Issues Guidance on Climate Risk Management

23/07/2022

The guidance outlines the different ways FIs can provide support to clients in their climate change response and transition efforts.

ESG / Sustainability

SGX RegCo Outlines Steps to Tackle Greenwashing

21/07/2022

SGX is developing a digital portal known as ESGenome which will help issuers with disclosures and make ESG data more easily accessible to investors.

Crypto / Digital Assets

MAS to Introduce More Comprehensive Rules for Crypto Sector

19/07/2022

MAS will share its strategy for developing Singapore as a digital asset hub in August. New rules for crypto will be proposed in September or October.

ESG / Sustainability

IMF Outlines Approaches to Climate Risk Analysis in FSAPs

18/07/2022

Climate risk analysis in FSAPs typically entails the development of scenario-based stress tests for assessing bank solvency and liquidity, using bank level data.