Market Infrastructure

ASX Issues 2nd Consultation on CHESS System Design

06/08/2024

ASX proposes to move cash equities to a T+1 settlement cycle after the CHESS replacement is fully delivered in 2029.

Enforcement

Evergrande Seeking to Recover $6bn from Former Executives

06/08/2024

The lawsuit, which includes founder Hui Ka Yan as a defendant, was filed in March but only now revealed after a confidentiality order was lifted.

Capital / Liquidity

HKMA Confirms Plans to Simplify Three-Tier Banking System

06/08/2024

Deposit-taking companies will have a five-year transition period to meet a HK$100mn capital requirement, compared to HK$25mn.

Crypto / Digital Assets

South Korea’s Top Financial Regulator Gets New Chairman

05/08/2024

The FSC’s new chairman, Kim Byoung Hwan, has set out his key areas of focus to ensure financial market stability in Korea.

Securities / Derivatives

CFTC Revokes US Trading Permissions for TAIEX Futures

04/08/2024

TSMC’s heavy TAIEX weighting means the index no longer meets the definition of a broad-based security index.

Securities / Derivatives

Stock Connect: 2nd Phase of Market Data Changes Set to Take Effect

03/08/2024

Investors participating in Stock Connect from Hong Kong will no longer be able to calculate net flows at the end of each trading day.

Crypto / Digital Assets

Montenegro Confirms Decision to Extradite Do Kwon to Korea

02/08/2024

The decision, which is legally binding, comes after 16 months of extradition proceedings involving competing requests from the US and South Korea.

Enforcement

US DOJ Launches Whistleblower Awards Pilot Programme

02/08/2024

Whistleblower awards can be up to 30% of the first $100mn in assets forfeited and up to 5% of those between $100-500mn.

AML / KYC

China Proposes to Introduce National Cyberspace IDs

01/08/2024

Cyberspace IDs would minimise the collection of personal information by internet platforms, the MPS and CAC said.