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PEPs & Sanctions
Russia Creates Hurdles for Foreign Banks Trying to Exit
By Manesh Samtani | 24/07/2022
Societe Generale is the only major bank that has exited Russia so far. HSBC has struck a deal to sell its Russian business but will need regulatory approval.
Structural Regulation
Fed Consults on Default Rules for Legacy LIBOR Contracts
By Editors | 24/07/2022
The rules would implement a law enacted earlier this year that provides a uniform solution for replacing LIBOR references in contracts without adequate fallback provisions.
Conduct, Culture & Accountability
UK FRC Scrutinises Audit Firms’ Exam Cheating Controls
By Editors | 24/07/2022
The UK Financial Reporting Council asked 7 audit firms to detail the controls that are in place to prevent and detect cheating in professional exams.
Structural Regulation
ANZ Faces Regulatory, Industry Scrutiny Over Proposed Suncorp Deal
By Editors | 24/07/2022
ANZ will need approval from the ACCC, the Federal Treasurer and Queensland officials. The Finance Sector Union is calling for the deal for be rejected.
Tokenisation
ISSA Finds ‘Major Upsurge’ in DLT Use in Financial Markets
By Editors | 24/07/2022
Over 30% of the industry using DLT in live production, finds ISSA survey, conducted by the ValueExchange with support from Accenture, Broadridge and VMWare.
Clearing & Post-Trade
FSS Korea Proposes to Extend, Revise Non-cleared Margin Guidelines
By Editors | 24/07/2022
The guidelines, which expire on 31 August 2022, will be extended for an additional year to 31 August 2023.
Payments & Settlements
Central Bank Liquidity Bridges Lower Costs of Cross-border Payments
By Editors | 24/07/2022
CPMI says central bank liquidity bridges can help reduce funding costs, FX costs, credit risks and operational risks for payment system participants.
Trading & Investment
China Tightens Retail Access to Precious Metal Trading
By Editors | 24/07/2022
Banks are further restricting retail access to precious metals markets due to increased volatility and to protect investors.
Structural Regulation
Taiwan, Israel Regulators Sign Fintech Cooperation MOU
By Editors | 23/07/2022
The MOU provides a framework for collaboration and information exchange in fintech innovation, capital markets and investment.
Trading & Investment
Bangladesh Creates New Refinance Scheme for Small Business
By Editors | 23/07/2022
At least 75 percent of the BDT 250 million scheme will be disbursed among cottage, micro and small entrepreneurs, and 25 percent to medium sized enterprises.
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