Payments & Settlements

Australia to Regulate Digital Payment Providers

12/10/2023

The RBA will regulate new and emerging payments systems the same way as credit cards, EFTPOS and other transactions.

Trading & Investment

China State Fund Starts Moving to Boost Stock Market

12/10/2023

State-controlled Central Huijin Investment increased its stake in China’s big four banks and plans to continue buying shares for the next six months.

Structural Regulation

China Restricts Overseas Trading by Domestic Investors

12/10/2023

Cross-border securities broking, securities lending, fund sales and investment consulting for domestic investors are all prohibited.

Tokenisation

JPMorgan Chase Launches ‘Tokenized Collateral Network’

12/10/2023

The first live transaction involved the use of tokenised shares in a BlackRock MMF as collateral in a bilateral OTC derivatives trade with Barclays.

Capital Adequacy

RBI to Extend PCA Framework to Government NBFCs

12/10/2023

The RBI will extend the PCA framework to government NBFCs, except those in the “base layer”, from 1 October 2024.

Alternative Markets

SEBI Calls on AIFs to Develop and Adopt Code of Conduct

12/10/2023

The industry body for alternative investment funds would help to address their use by regulated entities to circumvent regulations.

Anti-Bribery & Corruption

Goldman Sachs Sues Malaysia Over 1MDB-related Dispute

12/10/2023

The two sides are in disagreement over whether Goldman must make an interim payment against a guarantee it provided in its 2020 settlement with Malaysia.

Conduct, Culture & Accountability

Kiwibank Fined for Overcharging Transaction Fees

12/10/2023

The court said the relevant conduct involved “negligence, and no intention to deprive customers of their entitlements.”

Conduct, Culture & Accountability

SFC Bans Investment Banker for Seven Years for Sponsor Failures

12/10/2023

The SFC said there was a need to send a “strong deterrent message” that failures of sponsors and sponsor principals will not be tolerated.