LATEST NEWS

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    Capital / Liquidity

    Hong Kong Financial System Remains Resilient: IMF Staff

    By Editors | 07/05/2023

    IMF staff said credit risk will “likely continue to materialise”, and banks should properly recognise and provision for credit losses, including those from Mainland property exposures.

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    Securities / Derivatives

    China: AMAC Proposes Additional Requirements for Private Securities Funds

    By Editors | 07/05/2023

    PE funds must have at least 10mn yuan under management to remain in operation. Firms with more than 2bn yuan under management will have to undergo regular stress tests.

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    Big Picture

    Thousands of US Banks are “Underwater” and “Potentially Insolvent”

    By Manesh Samtani | 07/05/2023

    Report by Stanford Professor Amit Seru and a group of banking experts presents an analysis of US banks’ asset exposure to interest rate hikes and the implications for financial stability.

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    ESG / Sustainability

    LMA Publishes Model Provisions for Sustainability-linked Loans

    By Editors | 07/05/2023

    The model provisions provide a basic drafting framework to assist parties in the negotiation of documentation for sustainability-linked loans.

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    Enforcement

    NYDFS Fines BitFlyer for Deficient Cybersecurity Programme

    By Editors | 07/05/2023

    BitFlyer USA did not perform risk assessments, implement a written cybersecurity policy, or conduct annual reviews. The firm said it has completed over 90% of its planned remediation work.

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    Enforcement

    India Supreme Court Allows Prosecution of Deloitte, KPMG Units

    By Editors | 07/05/2023

    Supreme Court ruling allows criminal complaints against Deloitte Haskins & Sells and BSR & Associates over their handling of IL&FS audits to proceed.

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    Enforcement

    UK FCA Fines Banque Havilland for Alleged Manipulative Trading

    By Sanday Chongo Kabange | 06/05/2023

    Banque Havilland employees including the CEO created and distributed a document containing “manipulative trading strategies” aimed at harming Qatar’s economy.

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    Fintech / Regtech

    AI Ethics: A Framework for Investment Professionals

    By Siva Ramachandran | 06/05/2023

    CFA Institute’s Siva Ramachandran and Phoebe Chan examine the ethical aspects of using AI tools in investment management.

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    Enforcement

    FSS Korea Uncovers First “Malicious” Cases of Naked Short Selling

    By Editors | 06/05/2023

    The FSS uncovered cases where market participants deliberately short-sold securities without first borrowing the stock in a bid to “maximise trading profits”.

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    Market Infrastructure

    Regulators Announce 15 May Launch Date for Swap Connect

    By Editors | 06/05/2023

    Swap Connect will allow overseas investors to trade in Mainland interest rate swap contracts on CFETS via Tradeweb and Bloomberg.

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