Capital / Liquidity

AllianceBernstein to Sue Switzerland Over Credit Suisse AT1 Writedown

16/12/2024

AllianceBernstein will be the first large institutional investor to sue Switzerland over its decision to write down Credit Suisse’s AT1 bonds last year.

Sanctions

Russia’s Rosneft, India’s Reliance Agree $13b Crude Oil Deal

16/12/2024

The EU has been separately calling on Indian authorities to stop the illicit flow of Common High Priority Items to Russia.

Capital / Liquidity

HKMA Issues Revised Guidelines on Fair Value Practices

16/12/2024

The revisions are mainly to better align with the “Prudent valuation guidance” under CAP50 of the Consolidated Basel Framework.

Sanctions

OFAC Fines Global Logistics Firm for Sanctions Violations

16/12/2024

The violations of Cuba and Iran sanctions were committed by subsidiaries based in China, Spain, Canada, Australia and Peru.

Capital / Liquidity

China Vows ‘Special Actions’ to Boost Domestic Economy

15/12/2024

President Xi Jinping pledged lower interest rates, reduced reserve requirements for banks, and “special actions” to boost consumption.

Sanctions

US Considers New Sanctions Targeting Russian Oil Exports

15/12/2024

The new sanctions would potentially target foreign buyers of Russian crude oil and more of the vessels used for shipments.

Market Infrastructure

EU Agrees to Streamline BMR Authorisation, Registration Rules

15/12/2024

Administrators of benchmarks defined as non-significant in the EU will be removed from the scope of current rules.

Enforcement

SGX Reprimands RHT Capital for Breaching Sponsor Obligations

14/12/2024

RHT Capital failed to advise Y Ventures to promptly disclose that its financial statements contained material errors that were false and misleading

Crypto / Digital Assets

Hong Kong Commits to Implementing OECD Crypto Reporting Framework

13/12/2024

The government aims to commence the first automatic exchanges with relevant jurisdictions under CARF from 2028.