Clearing & Post-Trade

34 FIs Have Joined Swift Service for Addressing Settlement Fails

19/05/2023

The service leverages the UTI to link all Swift messages related to the same securities settlement flow in a transaction chain.

Data Privacy

Korea Establishes Taskforce to Improve Data Regulations

19/05/2023

The taskforce was established to lay the groundwork for promoting “data-driven innovation” in the financial industry.

Supervision & Enforcement

China Inaugurates New National Financial Regulator

19/05/2023

The NFRA absorbs the CBIRC in its entirety, and takes over certain functions from the PBOC and CSRC.

CBDCs

NY Fed, MAS Publish Results from Cross-Border Payments Study

19/05/2023

Each simulated payment scenario achieved end-to-end settlement in under thirty seconds on average using wholesale CBDCs.

Market Abuse

SEBI to Tweak Definitiion of ‘Unpublished Price Sensitive Information’

19/05/2023

SEBI’s amendments aim to improve transparency in the capital market and ensure timely and accurate disclosure of material events or information by listed entities.

Anti-Money Laundering

Deutsche Bank to Settle Jeffrey Epstein Lawsuit for $75m

19/05/2023

The lawsuit brought by an unnamed woman in November claimed Deutsche Bank missed red flags in Epstein’s accounts and chose profit over following the law.

CBDCs

HKMA Launches e-HKD Pilot Programme With 16 Firms

19/05/2023

HSBC, StanChart, BOCHK, CCB, ICBC, Hang Seng Bank, Alipay, Ripple, Visa, Mastercard and ZA Bank are among those involved in HKMA’s pilot.

Conduct, Culture & Accountability

SFC Fines Brokerage for Negligence During Share Placement

19/05/2023

China On Securities used incorrect prices in contract notes and transferred shares to placees without first requiring payment.

Structural Regulation

CSRC, PBOC Reduce Budget Allocations for Staff Salaries

19/05/2023

The changes are part of a drive to reduce income disparity as well as a broader overhaul of the financial regulatory system announced in March.