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.

Capital / Liquidity

BCBS Treatment of Banks’ Crypto Exposures Still Constraining: ISDA

18/07/2022

ISDA chief executive Scott O’Malia says the new group 2 exposure limit presents a “significant constraint” on the extent to which banks can participate.

Crypto / Digital Assets

Thailand Refines Rules for Crypto Firms, Issues Draft Rules for Banks

15/07/2022

The SEC amended capital requirements and other rules for crypto firms. The BOT issued draft rules for banks dealing in crypto. Two crypto exchanges were penalised.