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Capital / Liquidity
Standard Setters Publish Review of Global Margining Practices
By Editors | 30/09/2022
Market volatility and model reactions to volatility were responsible for the majority of the peak increase in IM requirements in March and April 2020.
Capital / Liquidity
HKMA Consults on Pillar 3 Disclosure Requirements for Basel III
By Editors | 30/09/2022
Following consultation, the HKMA plans to submit revisions to the disclosure requirements in early 2023, ahead of Basel III implementation on 1 July 2023.
AML / KYC
China to Strengthen ‘Controllable Anonymity’ Feature of e-CNY
By Darien Choong | 30/09/2022
Twenty defendants have been arrested on suspicion of illegal business activity and money laundering using the e-CNY.
AML / KYC
Turkish Banks to Stop Using Russia’s Mir Payment System
By Editors | 30/09/2022
Three Turkish state banks will stop using the Mir system in response to guidance issued by OFAC earlier this month. Two others stopped last week.
Enforcement
FSC Korea to Introduce New Penalties for Unfair Trade Practices
By Sanday Chongo Kabange | 30/09/2022
Violators could be banned from trading, account opening, and serving as listed company directors for up to 10 years.
AML / KYC
US SEC Penalises Oracle for FCPA Violations by Foreign Subsidiaries
By Editors | 30/09/2022
Oracle subsidiaries in Turkey, the UAE, and India used slush funds to bribe foreign officials in return for business between 2016 and 2019.
Crypto / Digital Assets
BIS Innovation Hub Nordic Centre Launches Retail CBDC Project
By Editors | 30/09/2022
The central banks of Israel, Norway and Sweden will develop a “hub” to which they will connect their domestic proof-of-concept CBDC systems.
Fintech / Regtech
Australia Proposes Framework to Enable CDR ‘Action Initiation’
By Editors | 30/09/2022
Consumers would be able to instruct businesses to make payments, open and close accounts, switch providers, and update personal details on their behalf.
AML / KYC
G7 Nations Imposing New Russia Sanctions Over “Sham” Referendums
By Manesh Samtani | 30/09/2022
The EU package includes an oil price cap and a complete ban on providing crypto services to Russians. UK targets include Gazprombank, Sberbank and Sovcombank board members.
Securities / Derivatives
HKMA Unveils Details of Financial Forum to be Held in November
By Manesh Samtani | 29/09/2022
Financial Secretary Paul Chan said this week that “bold reforms” are in the pipeline to attract talent and enterprises to the city.
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