KYC & CDD

Bank of Baroda Ordered to Halt Mobile App Onboarding

13/10/2023

The action comes after it was reported in July that some bank employees onboarded fake customers to meet sign-up targets.

Stablecoins

Japan Consortium to Launch Digital Currency in July 2024

13/10/2023

A consortium of Japanese firms plans to launch the DCJPY, a digital currency backed by JPY bank deposits, by July 2024.

Payments & Settlements

Australia to Regulate Digital Payment Providers

12/10/2023

The RBA will regulate new and emerging payments systems the same way as credit cards, EFTPOS and other transactions.

Trading & Investment

China State Fund Starts Moving to Boost Stock Market

12/10/2023

State-controlled Central Huijin Investment increased its stake in China’s big four banks and plans to continue buying shares for the next six months.

Structural Regulation

China Restricts Overseas Trading by Domestic Investors

12/10/2023

Cross-border securities broking, securities lending, fund sales and investment consulting for domestic investors are all prohibited.

Tokenisation

JPMorgan Chase Launches ‘Tokenized Collateral Network’

12/10/2023

The first live transaction involved the use of tokenised shares in a BlackRock MMF as collateral in a bilateral OTC derivatives trade with Barclays.

Capital Adequacy

RBI to Extend PCA Framework to Government NBFCs

12/10/2023

The RBI will extend the PCA framework to government NBFCs, except those in the “base layer”, from 1 October 2024.

Alternative Markets

SEBI Calls on AIFs to Develop and Adopt Code of Conduct

12/10/2023

The industry body for alternative investment funds would help to address their use by regulated entities to circumvent regulations.

Anti-Bribery & Corruption

Goldman Sachs Sues Malaysia Over 1MDB-related Dispute

12/10/2023

The two sides are in disagreement over whether Goldman must make an interim payment against a guarantee it provided in its 2020 settlement with Malaysia.