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Converting Property Loans to Business Loans is Illegal, CBIRC Warns
By Editors | 27/12/2022
Some “unscrupulous intermediaries” have been advertising and promoting “illegal” loan conversion as a way to reduce interest costs.
ESG / Sustainability
NYDFS Proposes Guidance on Climate Risk Management
By Editors | 27/12/2022
The guidance focuses on corporate governance; internal control framework; risk management process; data aggregation and reporting; and scenario analysis.
Crypto / Digital Assets
Bank of Canada Papers Shine Spotlight on Stablecoins
By Sanday Chongo Kabange | 27/12/2022
The first paper calls for effective regulation to gain payments-related benefits. The second highlights concentration risks applicable to stablecoins and their holders.
Fintech / Regtech
EU Commission Approves Pilot Use Cases for Digital ID Wallet
By Editors | 27/12/2022
The approved pilots cover payments, travel, and business compatibility. The EU Digital Identity Wallet is expected to go live in 2024.
BOE Proposes to Remove Cap on Bankers Bonuses
By Editors | 27/12/2022
Removing the cap will increase the proportion of compensation that can be set by tools such as deferral, payments in instruments, and risk adjustment.
ESG / Sustainability
RBI Official Calls for Structural Changes to Scale Up Green Finance
By Editors | 27/12/2022
Deputy governor M Rajeshwar Rao said a formal definition of green finance and a taxonomy are needed, along with a robust ecosystem for third-party verification and assurance.
Crypto / Digital Assets
Insurers Are Denying Coverage to Crypto Firms Linked to FTX
By Editors | 27/12/2022
When coverage is provided, it is becoming more pricey and contains broad policy exclusions that would deny any FTX-related claims.
Securities / Derivatives
Shanghai Bourse Opens New Portal to Facilitate New Listings
By Editors | 27/12/2022
The new portal provides inquiry services, listing assessment services, policy regulatory and information, and training for companies seeking an IPO.
Securities / Derivatives
Thai SEC Launches New Mutual Fund Comparison Tool
By Editors | 27/12/2022
The SEC began developing the “SEC Fund Check” application in Q2 2019. A separate application called “SEC Bond Check” is also under development.
Crypto / Digital Assets
HK Police Arrest Two Men Over Halted Crypto Exchange AAX
By Editors | 26/12/2022
Police say the two men falsely claimed AAX was undergoing “scheduled maintenance” to suspend user withdrawals. A third individual is said to be on the run.
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