Liquidity Risk

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 Data

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.

Anti-Money Laundering

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”.

Resolution & Recovery

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.

PEPs & Sanctions

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.

Anti-Money Laundering

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.

Clearing & Post-Trade

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.

Cryptocurrency

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.

Anti-Money Laundering

FATF Releases Mutual Evaluation Report for Brunei

30/08/2023

The report notes that Brunei has a new framework on beneficial ownership transparency, but that it is experiencing implementation challenges.