Securities / Derivatives

Korea FSS Outlines Key Risks of Investment in SPACs

31/08/2021

13 SPAC IPOs in Korea this year were oversubscribed 169.4 to 1. Historically, 85 of 133 SPACs completed mergers, a success rate of 63.9%.

AML / KYC

FATF Releases Mutual Evaluation Report for Japan

30/08/2021

The report says more needs to be done to combat organised crime and WMD proliferation risks, and a joint-agency body should be designated for setting national AML/CFT policies.

Fintech / Regtech

ABS Offers Standardised Approach to Bank Data Sharing

30/08/2021

A new Data Sharing Handbook provides a framework for banks and non-bank ecosystem partners to share data in a safe, secure and responsible manner.

Market Infrastructure

APRA Finalises Prudential Standard on Remuneration

29/08/2021

The prudential standard on remuneration will come into effect from 1 January 2023 initially for the largest and most complex ADIs.

Market Infrastructure

US Treasury ‘Will Not Adjudicate’ on LIBOR Replacement Rates

26/08/2021

Nonfinancial corporations were seeking clarity on alternative rates and help to address difficulties obtaining loan agreements based on SOFR.

AML / KYC

FSC Korea Confirms Plans for Dedicated Crypto Bureau at KoFIU

26/08/2021

24 of the 63 crypto exchanges operating in Korea have not yet applied for ISMS certification, a KoFIU registration requirement that takes months to obtain.

Securities / Derivatives

SGX RegCo Proposes to Phase in Mandatory Climate Reporting

26/08/2021

SGX also proposes an assurance requirement for sustainability reports and the introduction of a new ESG data portal for issuers and investors.

AML / KYC

Screening Financial Instruments for Investment-related Sanctions Risk

26/08/2021

Refinitiv identified over 190,000 financial instruments relevant to the US investment ban against Non-SDN Chinese Military-Industrial Complex Companies as of 28 July.

AML / KYC

GCFFC Calls for Action on Beneficial Ownership Data

26/08/2021

Beneficial ownership data should be structured and interoperable, collated in a central register, and accessible to all actors fighting financial crime.