LATEST NEWS

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.