Structural Regulation

CSRC to Prevent IPOs from Firms in Non-Strategic Sectors

11/01/2023

The move is aimed at channelling resources into sectors that align with the national agenda, such as information technology and advanced manufacturing.

Alternative Markets

SEBI Proposes to Standardise Approach to AIF Portfolio Valuation

10/01/2023

SEBI proposes that PE funds, angel funds, and VC funds in India adopt the internationally recognised IPEV guidelines for portfolio valuation.

Market Abuse

China to Crack Down on ‘Malicious Speculation’ in Iron Ore Market

10/01/2023

The NDRC said it will crack down on the spreading of false information, price gouging and speculation to ensure the smooth operation of the iron ore market.

Credit Risk

CBIRC Drafts Revisions to Loan Management Rules for Banks

10/01/2023

Among other measures, the rules set requirements on the maximum term of different types of loans, to help banks guard against maturity mismatch risks.

Anti-Money Laundering

PBOC Fines Three FIs a Combined $20m for AML Rule Violations

10/01/2023

China Merchants Bank, China Merchants Bank, UnionPay, and 26 of their responsible persons were fined for a total 31 regulatory violations.

Structural Regulation

ASIC: New Register to Specify Whether Advisers Provide Tax Advice

10/01/2023

AFS licensees are responsible for notifying ASIC by 1 February whether their financial advisers can provide tax (financial) advice services.

KYC & CDD

Banks Can Perform Re-KYC Process Remotely, Says RBI

10/01/2023

If there is no change in a customer’s KYC information, only a self-declaration is required to complete the re-KYC process.

Climate Risk

Independent Review Concludes ACCU Scheme is ‘Essentially Sound’

10/01/2023

Australia’s Climate Council said the review “ignores the elephant in the room”, namely that too many major emitters are buying ACCUs so they can “continue to pollute as usual”.

PEPs & Sanctions

US Sanctions Iranian Executives Over Russia Drone Sales

10/01/2023

Six officers and board members of Qods Aviation Industries were designated over the use of Iranian drones by Russia to attack Ukrainian civilian infrastructure.