Alternative Markets

New Rules for PE Funds Take Effect in South Korea

23/10/2021

The revised rules improve investor protection and subject private equity funds to increased monitoring and external audits.

Emerging Prudential Risks

US Regulators Publishes Guidance on ‘Orderly’ LIBOR Transition

21/10/2021

A draw on an existing agreement that is legally enforceable, such as a committed credit facility, would not be viewed as a new contract.

Supervision & Enforcement

Appeals Tribunal Affirms SFC Punishment of Yi Shun Da Capital

21/10/2021

The Appeals Tribunal upheld the SFC’s decision to punish Yi Shun Da Capital over sponsor failures but reduced the penalty amount.

Clearing & Post-Trade

BSE India to Offer T+1 Settlement from 3 January 2022

21/10/2021

BSE has told members and vendors to make necessary changes to their trading applications to ensure T+1 is supported.

Cryptocurrency

NYSE Launches First US ETF Linked to Bitcoin with SEC Approval

21/10/2021

The ProShares bitcoin ETF had almost $1bn in turnover on the first trading day, after receiving a green light from the SEC last week.

Conduct, Culture & Accountability

APRA Issues Updated Guidance on New Remuneration Standards

21/10/2021

The guidance has been updated to align with the Financial Accountability Regime and provide additional examples of better practices to help entities transition smoothly.

Anti-Money Laundering

AUSTRAC Seizes Star Casino Files in Money Laundering Probe

20/10/2021

AUSTRAC is reported to be building a case against Star Entertainment Group over alleged shortcomings in its AML/CTF controls.

Reporting & Disclosures

BIS Outlines Principles for Designing Effective Taxonomies

20/10/2021

The principles for sustainable finance taxonomies will facilitate comparability and interoperability across firms and markets, the BIS says.

Anti-Money Laundering

Singapore Consults on Amendments to Accountants Act

20/10/2021

Under the changes, ACRA can conduct inspections on accountants for compliance with AML/CFT requirements, and impose penalties for non-compliance.