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AML / KYC
FINRA Issues New Penalties Guidance for Rule Violations
By Editors | 03/10/2022
Large firms face penalties with no upper limit if they fail to reasonably monitor for and report suspicious transactions.
Market Infrastructure
Hong Kong to Launch Dual Counter Trading in H1 2023
By Editors | 03/10/2022
A market-maker system will be established to facilitate yuan-denominated stock trading. Stamp duty will be waived for market makers providing liquidity for yuan shares.
Securities / Derivatives
India Allows FPIs to Trade Commodity Derivatives Market
By Editors | 03/10/2022
Since 2018, FPIs been allowed to trade exchange-traded commodity derivatives but only to hedge actual underlying exposures to physical commodities.
Capital / Liquidity
Large Global Banks See Highest Capital Ratios Since 2012: BCBS
By Editors | 03/10/2022
A special feature in the latest Basel III monitoring report reveals that crypto exposures are small, around 0.14% of total exposures on a weighted average basis.
Securities / Derivatives
Taiwan Tightens Short Selling Rules to Stabilise Market
By Editors | 03/10/2022
The measures tighten limits on the volume of intraday securities lending orders, and raised the margin requirements on securities lending.
Singapore Tightens Mortgage Rules to Ensure Prudent Borrowing
By Editors | 03/10/2022
Lenders will have to assume higher interest rates when assessing borrowers’ repayment ability. The LTV limit for HDB housing loans has been lowered.
Capital / Liquidity
APRA Removes CBA’s Remaining A$500m Capital Add-on
By Editors | 03/10/2022
The A$1bn capital add-on imposed on CBA in May 2018 was halved in November 2020, and has now been completely removed.
AML / KYC
US, UK, Canada, Australia Announce More Russia Sanctions
By Manesh Samtani | 03/10/2022
The sanctions are a response to Putin’s attempt to annex four regions of Ukraine, after holding referendums that have been denounced as illegal and coercive.
Market Infrastructure
1M, 6M Synthetic GBP LIBOR to Cease at End March, FCA Says
By Editors | 03/10/2022
The FCA is still considering when to cease the 3-month synthetic GBP LIBOR setting, and whether to compel IBA to produce synthetic USD LIBOR settings after mid 2023.
Enforcement
US SEC Fines Deloitte China Over Audits of US-Listed Companies
By Editors | 02/10/2022
Deloitte China personnel asked certain Chinese clients to select their own samples for testing and prepare their own audit documentation.
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