CSRC Grants Fund Custody Licence to HSBC’s China Unit

03/11/2024

HSBC is the fifth foreign bank to be granted a fund custody licence, after StanChart, Citibank, Deutsche Bank and BNP Paribas.

Securities / Derivatives

Hong Kong Lists First Company via De-SPAC Transaction

03/11/2024

HK Acquisition Corp completed a merger with e-commerce solutions provider Synagistics, making it the first de-SPAC transaction completed in Hong Kong.

Sanctions

BIS Announces Decision to Exit mBridge CBDC Project

03/11/2024

Agustín Carstens said BIS is not leaving mBridge because of political considerations but instead because it is “at a level where the partners can carry it on by themselves.”

Sanctions

OFAC Issues New Sanctions Compliance Guidance for Maritime Industry

03/11/2024

The guidance describes five scenarios indicative of sanctions evasion and offers recommendations for maritime sector stakeholders.

Enforcement

Google’s Russia Fines Have Grown to Over $20 Decillion

02/11/2024

A Russian court imposed a daily penalty that had been doubling weekly against Google for blocking the YouTube accounts of Russian broadcasters.

Enforcement

CSRC Penalises CICC Over Sponsor Due Diligence Failures

02/11/2024

CICC was fined for failure to perform due diligence as the IPO sponsor of S2C Limited, which was found to have inflated its financial results.

Enforcement

Former Dealer Jailed for Manipulating Singapore-listed Stocks

02/11/2024

The former dealer spoof the market 215 times between August 2020 and March 2021, resulting in over SGD 250,000 in illicit gains.

Enforcement

FSS Probing Mirae Asset Securities in Korea Zinc Case

02/11/2024

Mirae was involved in Korea Zinc’s recent share buyback and is also the underwriter of rights issue that was announced shortly afterwards.

OJK Issues New Regulation on Bank Financial Reporting

01/11/2024

Banks have 3 months to implement financial reporting controls and 6 months to assign responsibility for preventing fraud or manipulation in financial reports.