ESG / Sustainability

APRA to Survey Regulated Entities on Climate Risk Management

03/03/2022

The survey will assess the alignment between current approaches used by regulated entities and the expectations set out in CPG 229 and the TCFD recommendations.

Fintech / Regtech

Cambridge CCAF Launches Crypto Research Project

02/03/2022

The research project will cover the environmental implications and broader ESG considerations of digital assets and their associated services, among other themes.

Securities / Derivatives

Eight SPACs Have Filed IPO Applications in Hong Kong

02/03/2022

The first applicant, backed by CMB International, has been approved. The latest applicant is a SPAC majority owned by ex-HKMA chief Norman Chan.

Market Infrastructure

ESMA Consults on Climate Risk Stress Testing Approach for CCPs

02/03/2022

ESMA has identified four elements of climate risk that may adversely impact CCPs – physical risk, rapid transition risk, business risk, and collateral replacement risk.

AML / KYC

US Regulators Fine National Bank of Pakistan $55m for AML Violations

01/03/2022

National Bank of Pakistan is required to pay penalties, correct deficiencies in its AML compliance, and submit quarterly progress reports on remedial actions taken.

Fintech / Regtech

RBI Directs Selected NBFCs to Centralise Core Systems

28/02/2022

Middle and upper layer NBFCs with ten or more places of operation will be required to implement a core financial services solution by 30 September 2025.

AML / KYC

PBOC Allows Merchants to Continue Using Personal QR Codes

27/02/2022

Rules issued last October were about to take effect that would have prohibited merchants from using personal QR codes to receive payments from 1 March.

Securities / Derivatives

US Fed Approves New Trading Rules for Senior Officials

27/02/2022

The rules aim to support public confidence in the impartiality and integrity of the FOMC’s work by guarding against “even the appearance of any conflict of interest”.

Crypto / Digital Assets

Russia Considers Framework for Regulating Cryptocurrencies

24/02/2022

The draft proposes requirements for VASPs relating to corporate governance, tax reporting, data storage, internal controls, risk management, client identification/KYC and segregation of assets.