Structural Regulation

NZX Proposes to Relax Market Maker Eligibility Requirements

19/06/2024

NZX proposes to allow non-trading participants to become designated market makers to support increased liquidity and market efficiency.

Anti-Money Laundering

US Uncovers Drug Cartel Alliance With Chinese Money Launderers

19/06/2024

US authorities uncovered a partnership between Mexico’s Sinaloa Cartel and a Chinese underground money laundering syndicate.

Trading & Investment

Korea to Conduct Final Trials for Extended FX Trading Hours

19/06/2024

As of 1 July, onshore dollar-won trading will close at 2am, compared to 3.30pm currently. Final tests will be carried out this week.

Payments & Settlements

Singapore, Cambodia Launch Financial Transparency Corridor

19/06/2024

The initiative will enable better credit risk assessments by participating FIs in both countries and improve access to financing for SME trade.

PEPs & Sanctions

Sanctioned Russian Billionaire Files Lawsuit Against UBS – Reports

19/06/2024

Alisher Usmanov claims that STRs filed by UBS were “unsubstantiated, if not knowingly false” and triggered an illegal criminal investigation against him.

Cryptocurrency

‘Gemini Earn’ Investors Secure Full Recovery of Crypto Assets

18/06/2024

The NYAG’s claims against Gemini are now fully resolved, with Gemini Earn users receiving full recovery of the digital assets owed to them.

Capital Adequacy

FSC Korea Approves Rule Change for Financial Conglomerates

18/06/2024

The amendment increases focus on internal control and risk management in financial conglomerate risk assessments.

Credit Risk

UBS to Repay Investors for Credit Suisse’s Greensill Losses

18/06/2024

UBS is offering to repay investors who lost money in Credit Suisse funds as a result of Greensill Capital’s bankruptcy in 2021.

Credit Risk

HKMA Tweaks Rules to Address Homebuyer Hardship

18/06/2024

The adjustments aim to address depressed valuations, simplify borrowing capacity calculations, and reduce rental income haircuts.