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Conduct, Culture & Accountability
HK Regulators Identify Issues in Sales of Tax-deductible Products
By Sanday Chongo Kabange | 28/12/2022
Mystery shopping programme identified deficiencies in QDAP and TVC sales practices. Insurers and intermediaries with adverse findings will be required to take remedial actions.
Trading & Investment
Korean Brokers Put on Notice for Selling, Lending Practices
By Sanday Chongo Kabange | 28/12/2022
The concerns relate to self-issued equity and derivative-linked bonds sold by securities firms, and the offering of high interest credit loans to investors.
Payments & Settlements
BSP Issues Rules for Participants of RTGS Payment System
By Editors | 28/12/2022
Non-bank e-money issuers and other entities can become direct participants of the RTGS payment system without being sponsored by existing participants.
PEPs & Sanctions
Russia, Iran Spend Billions on New Trade Route – Report
By Sanday Chongo Kabange | 28/12/2022
Russia and Iran are investing an estimated USD 25 billion in the new 3,000 km trade route. The existing route is 14,000 km long.
Cryptocurrency
UK ASA Orders Removal of “Misleading” Crypto.com Ad
By Editors | 27/12/2022
The ASA said the ad was misleading because “it failed to illustrate the risk of investing in NFTs” and “it didn’t make clear that fees would apply”.
Trading & Investment
Korea Gets New Guidelines for PE Fund Asset Evaluations
By Editors | 27/12/2022
Effective from 1 January 2023, the guidelines are part of the response by the FSS and KOFIA to boost market confidence after a series of hedge fund scandals in Korea.
Trading & Investment
CSRC to Allow Backdoor Listings by Property Developers
By Editors | 27/12/2022
The measure is one of several outlined at a recent meeting to bolster the property sector and the capital market in the year ahead.
Clearing & Post-Trade
EU Member States Agree on Revisions to CSDR
By Editors | 27/12/2022
The mandatory buy-in regime would be used as a “measure of last resort”, activated only in the case where the “level of settlement fails would be substantial in the EU.”
Trading & Investment
SHFE Launches Trading in Steel Rebar, Silver Options
By Editors | 27/12/2022
Rebar futures were listed as early as 2009, and silver futures in 2012. With the two new options products, SHFE now offers 20 futures varieties and 8 options varieties.
Trading & Investment
FSC Korea Unveils Measures to Improve IPO Market
By Editors | 27/12/2022
The measures will enhance the process for setting IPO price bands, prevent fictitious oversubscriptions, and improve price discovery upon listing.
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