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Securities / Derivatives
China to Probe Corporate Bonds to Prevent Defaults
By Editors | 07/01/2023
Corporate bonds found to have debt repayment risks will be listed as “key focus objects” and subject to additional supervision by a special risk response team.
Crypto / Digital Assets
US SEC Objects to Binance Acquisition of Bankrupt Crypto Lender
By Editors | 07/01/2023
The SEC may be concerned about a possible co-mingling of funds between Binance’s US and global entities to fund the acquisition.
Capital / Liquidity
Indian Banks Can Withstand Even Severe Stress Conditions: RBI
By Editors | 07/01/2023
RBI stress tests for credit risk showed that commercial banks can meet minimum capital requirements even under severe stress situations.
CBIRC Proposes Updated Rules for Auto Finance Sector
By Editors | 07/01/2023
Auto finance companies will be allowed to set up overseas subsidiaries to provide financial services to Chinese automakers pursuing international expansion.
Market Infrastructure
China Allows Cities With Falling Home Sales to Lower Mortgage Rates
By Editors | 06/01/2023
China’s FSDC has also told banking and securities regulators to ensure extra support is provided to “systemically important” property developers.
Enforcement
Taiwan FSC Fines Cathay United Bank Again Over Outages
By Editors | 06/01/2023
The fine is the highest ever imposed against a bank by the FSC for IT-related issues. The bank’s president will also have his salary cut for three months.
AML / KYC
BSP Sets Out New Rules for Reporting Financial Crime Risk Events
By Editors | 06/01/2023
Banks and NBFIs will have to notify the BSP within 24 hours after they become aware of any significant money laundering, terrorism financing, or proliferation financing risk event.
Capital / Liquidity
China Set to Implement New Financial Stability Law This Year
By Editors | 05/01/2023
The law will create a financial stability guarantee fund, set out clear risk prevention and disposal responsibilities for financial institutions, and introduce a resolution regime for SIFIs.
Enforcement
Former BlackRock Portfolio Manager Fined Over Undisclosed Conflict
By Editors | 05/01/2023
The portfolio manager failed to disclose that he had asked an investee company to help advance his daughter’s acting career and that it helped her obtain a film role.
Sanctions
Will 2023 be the End of International Sanctions?
By Tom Keatinge | 05/01/2023
With the UNSC’s sanctions role effectively neutered, new sanctions coalitions and international harmony are needed to blunt North Korea’s nuclear ambitions and ensure global security.
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