Trading & Investment

PBOC Raises Costs for Firms to Bet Against the Yuan

29/09/2022

The PBOC is actively discouraging currency speculation and asking banks to reintroduce a yuan fixing tool that was abandoned two years ago.

DeFi & Web3

CFTC Penalises Crypto Firm, Pursues First Case Against DAO

29/09/2022

Crypto firm bZeroX transferred its software protocol to a DAO and then marketed this as a way to be “enforcement-proof”.

Resolution & Recovery

New Zealand Introduce Bill to Enhance Depositor Protections

28/09/2022

The legislation will introduce a deposit protection scheme, new supervisory powers for the RBNZ, and a new accountability framework for deposit takers’ directors.

Payments & Settlements

SEBI Developing New Settlement Process for Stock Market

28/09/2022

Under the new system, funds for secondary stock market transactions would be blocked until securities settlement is done.

Cryptocurrency

DBS Rolls Out Crypto Services to 100,000 More Investors

28/09/2022

Accredited wealth clients are able to trade four cryptocurrencies on DDEx – Bitcoin, Bitcoin Cash, Ethereum, and XRP.

Anti-Money Laundering

Korea FSS Finds More Suspicious Crypto-Linked FX Transactions

28/09/2022

FSS investigations have so far involved 82 corporates and 12 banks. The total value of abnormal FX transactions discovered is now $7.2bn.

Data Privacy

Indonesian Lawmakers Pass Personal Data Protection Law

28/09/2022

The law introduces GDPR-like concepts, grants data subjects greater control over their data, and allows penalties up to 2% of annual revenue.

Reporting & Disclosures

ESMA Publishes Final Guidelines on MiFID II Suitability Requirements

28/09/2022

Firms will need to help clients understand the concept of sustainability preferences and explain differences between products with and without sustainability features.

Fraud, Scams & Cybercrime

Malaysia Announces New Measures to Combat Financial Scams

28/09/2022

Malaysian banks will migrate SMS OTP to a more secure form of authentication, and further tighten detection rules and triggers to block scam-related transactions.