Conduct, Culture & Accountability

SEBI Issues Directions on Circulation of Market Rumours

18/09/2022

Intermediaries are required to prevent rumours and unverified information from being circulated via blogs, chat forums, and messenger sites.

PEPs & Sanctions

OFAC Issues Guidance on Transacting With Tornado Cash

18/09/2022

US persons may request a specific licence from OFAC to complete transactions involving sanctioned crypto mixer Tornado Cash.

Anti-Money Laundering

Bangladesh Considers Introducing Market-based FX Rates

18/09/2022

Recent rate fixing is called “discriminatory” against exporters. A new legal framework is being set out to facilitate the confiscation of unreported offshore assets.

Anti-Money Laundering

Puerto Rico Authority Agrees on Liquidation of Euro Pacific Bank

17/09/2022

Euro Pacific Bank customers will recoup 100 percent of their deposits. Several hundred investigations are still underway globally over whether the bank was used for tax evasion.

Trading & Investment

BSP Amends Rules for Unit Investment Trust Funds

17/09/2022

Trust entities seeking to create certain types of unit investment trust funds for the first time will be required to secure BSP approval.

Conduct, Culture & Accountability

Australia: FPA Adopts Simplified Professional Conduct Code

17/09/2022

A key element underpinning the new FPA Code is that members’ actions should promote a culture that “supports and requires integrity in others”.

Credit Risk

Vietnam: SBV Grants Banks Additional Credit Growth Quotas

17/09/2022

Vietcombank and Agribank were among those granted higher credit growth rate quotas, amid growing calls for the mechanism to be scrapped altogether.

Liquidity Risk

APRA Proposes to Update Guidance on Contingent Liquidity

17/09/2022

APRA will reduce the level of self-securitised assets banks must hold as contingent liquidity, provided they can increase these levels quickly if stress conditions emerge.

Structural Regulation

StanChart’s Singapore Digital Bank Reaches Key Milestone

16/09/2022

Trust Bank has been offering new accountholders a chance to win one of three Tesla cars, where referrals increase the chances of winning.