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Stablecoins
US Regulators Call for Responsible Stablecoin Design, Operation
31/12/2020
Stablecoin participants and arrangements should register with FinCEN and comply with AML, sanctions, recordkeeping and reporting requirements.
Sustainable Finance
Japan FSA Establishes Expert Panel on Sustainable Finance
31/12/2020
The panel will discuss initiatives to help channel investment into Japanese companies that support efforts to achieve carbon neutrality by 2050.
Trading & Investment
IOSCO Seeks Views from Market Participants on ETF Market
30/12/2020
IOSCO asks asset managers, liquidity providers and market-makers to help it obtain a more granular understanding of ETFs.
Market Data & Technology
HKEX to Introduce New Market Access Platform in Q3 2021
30/12/2020
Phase 1 will involve the technical migration from the Orion Central Gateway to the new Cash Market Gateway in Q3 2021.
Credit Risk
Korea to Lower Max Interest Rate on Loans in H1 2021
30/12/2020
A new enforcement decree will take effect in February 2021, lowering the maximum interest rate on loans from 24% to 20%.
Fraud, Scams & Cybercrime
Singapore Police Commend Citi, RHB Bank for Foiling Scam
29/12/2020
Upon being alerted to a suspected case of money laundering by Citi, the Police’s Anti-Scam Centre froze the funds and recovered $1.9mn.
Data Privacy
ACCC Extends Consumer Data Right to Business Customers
29/12/2020
The amendments will encourage CDR participation by expanding its benefits to more businesses, including companies and partnerships, the ACCC said.
Clearing & Post-Trade
HKEX Clears First Cross Currency Swaps for Japanese FIs
29/12/2020
Japan’s FSA granted HKEX’s OTC Clear a licence allowing it to offer clearing services to Japanese financial institutions in January 2020.
Structural Regulation
NYSE Gets SEC Green Lights to Allow Direct Listings
29/12/2020
Companies will be able to directly sell shares in an auction without a traditional underwriter, enabling investors to participate in new listings more readily.
Cryptocurrency
IOSCO Offers Guidance on Educating Investors on Crypto Asset Risk
29/12/2020
The report identifies the possible risks to retail investors in crypto-assets and describes how regulators can help inform them about these risks.
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