Structural Regulation

UK FCA Consults on Regulatory Approach for Overseas Funds

05/12/2023

The new regime will provide a “streamlined process” for overseas funds to market to UK retail customers if the government finds a jurisdiction equivalent.

Climate Risk

CFTC Proposes Standards for Carbon Credit Derivatives

05/12/2023

The guidance adopts standards from the ICVCM’s Core Carbon Principles and introduces quality standards for carbon offsets tied to derivative contracts.

Liquidity Risk

MAS Proposes Revisions to Capital Framework for AEs & ACHs

05/12/2023

The current capital framework for Approved Exchanges and Approved Clearing Houses may not adequately address liquidity risks, MAS said.

Operational Risk

FSB Finalises Third-Party Risk Management Toolkit

05/12/2023

Tools are provided to help FIs identify critical services and manage third-party risks, and to help regulators supervise such risks.

Payments & Settlements

HKMA, BOT Launch Cross-border QR Payment Linkage

05/12/2023

Travellers from Thailand and Hong Kong can make retail payments by using their mobile banking apps to scan the Hong Kong and Thai QR codes displayed by merchants.

Cryptocurrency

Cristiano Ronaldo Facing Class Action Over Binance Endorsement

04/12/2023

The $1bn lawsuit claims the endorsement led the plaintiffs to make loss-making investments, including in “CR7” branded NFTs.

Sustainable Finance

MAS Launches Coalition to Test Carbon Credits for Coal Phase-Out

04/12/2023

Two pilot projects will be undertaken to test the use of transition credits to help finance the early retirement of coal-fired plants.

Sustainable Finance

Emerging Market FIs to Get ‘Enhanced’ Climate Finance Assistance

04/12/2023

International organisations including the World Bank, IMF, GFANZ and others will provide enhanced capacity building support to financial institutions in EMDEs.

Anti-Money Laundering

OCBC Files Suit Against Money Laundering Suspect – Report

04/12/2023

The suspect was among the ten Chinese-born individuals arrested in August for offences including money laundering and forgery.