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AML / KYC
Isle of Man, Guernsey, Jersey Pause Work on UBO Registers
By Editors | 30/12/2022
Further legal advice is needed following the November judgment by the EU Court of Justice, which found public access to UBO information interferes with the right to privacy.
ESG / Sustainability
China ETS Sees Lower Than Expected Trading Performance
By Editors | 30/12/2022
Only 44 million tonnes of carbon allowances were traded during 2022, down from 179 million tonnes in 2021, though the market has now exceeded CNY 10 billion in cumulative turnover.
Fintech / Regtech
InvestHK Launches Platform to Promote Fintech Development
By Editors | 30/12/2022
The ‘FintechHK Community Platform’ allows users from fintechs, corporates, investors, and service providers to connect with one another.
Securities / Derivatives
FSC Korea to Introduce Takeover Bid Rule for M&A Deals
By Editors | 30/12/2022
The rule will require takeover bidders to offer minority shareholders an opportunity to sell their shares in a corporate merger or acquisition.
AML / KYC
SFC to Collect More Granular Data from Licenced Firms
By Manesh Samtani | 30/12/2022
Many of the new questions in the SFC’s updated BRMQ focus on AML/CFT practices and brokerage business controls.
Enforcement
Meta to Pay $725m to Settle Cambridge Analytica Claims
By Editors | 30/12/2022
Facebook allowed Cambridge Analytica to access data of 87 million users. The proposed settlement is the largest ever in a US data privacy class action.
Securities / Derivatives
UK Court Dismisses Case Seeking LME Disclosures on Cancelled Nickel Trades
By Editors | 30/12/2022
The lawsuit sought disclosures from the LME regarding its March decision to cancel nickel trades. The court said the merits of the case were “weak”.
Securities / Derivatives
NSE Chief Pushes to Extend Trading Hours for Indian Equities
By Editors | 30/12/2022
Ashish Chauhan said longer hours would enable mutual funds and banks to increase participation in hedging and liquidity-providing activities.
ESG / Sustainability
HKMA Revises SPM to Embed Climate Risk in Supervisory Approach
By Editors | 30/12/2022
Revised SPM illustrates the HKMA’s approach to the supervision of emerging risks such as climate risk under its risk-based supervisory approach.
Market Infrastructure
SEBI Proposes Regulatory Framework for Index Providers
By Manesh Samtani | 29/12/2022
Index providers could be subject to SEBI’s framework even if they do not know their indices are being used in India, and even if they are not regulated in their home market.
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