Anti-Money Laundering

Malaysia: Federal Court Upholds Najib Razak Conviction

24/08/2022

Najib was convicted in 2020 on 1MDB-related charges. The federal court upheld the conviction, requiring him to serve a 12 year jail sentence.

Structural Regulation

Korean Banks Start Publicly Disclosing Interest Rate Spreads

23/08/2022

The new disclosures are expected to push banks to increase the interest rates they pay on deposit products, and slow down the pace of interest rate hikes on loans.

Trading & Investment

CSRC Approves New Options at Zhengzhou Commodity Exchange

23/08/2022

Trading in rapeseed oil and peanut options will commence on the Zhengzhou Commodity Exchange from 26 August.

Sustainable Finance

IMF Issues Staff Note on Mobilising Climate Finance

23/08/2022

The IMF staff note explores the factors that limit climate finance and what policymakers can do to address them, particularly in emerging market and developing economies.

Data Privacy

China Cyberspace Regulator Says it Supports Foreign Listings

23/08/2022

The CAC said it supports the healthy development of China’s internet companies and their use of overseas capital markets for fundraising.

Cryptocurrency

US Court Allows Use of Crypto Firm’s Records to Identify Tax Cheats

23/08/2022

Crypto prime dealer SFOX will have to reveal the identities of customers who are US taxpayers and information on their crypto transactions.

Clearing & Post-Trade

DTCC Goes Live With New DLT-Based Settlement Platform

23/08/2022

The Project Ion platform is now parallel processing an average of over 100,000 bilateral equity transactions per day.

Structural Regulation

BSP to Increase Penalties for Misreporting of FX Transactions

23/08/2022

The new penalties regime is intended to help protect the value of the Philippine peso, maintain price stability, and deter future violations.

Payments & Settlements

India, Russia Continue to Explore Non-USD Trade Options

23/08/2022

Indian and Russian banks are discussing the use of customised trade accounts and an exchange rate mechanism that will enable trade settlement in rupees and rubles.