Resolution & Recovery

Singapore Investors Prepare to Sue Over Credit Suisse AT1 Bond Losses

21/04/2023

Lawyers for Singapore investors are preparing to argue that the Swiss government’s decision to write off Credit Suisse AT1 bonds violated a free trade agreement.

Fraud, Scams & Cybercrime

NBA Hall of Famer Shaquille O’Neal Served FTX Lawsuit

21/04/2023

Lawyers have been attempting to serve O’Neal since November 2022 but he reportedly evaded agents hired to serve the documents for months.

Stablecoins

US Lawmakers Propose Draft Stablecoin Legislation

21/04/2023

Applications from stablecoin issuers would be “deemed approved” if regulators do not reach a decision within 4.5 months from the application.

Anti-Money Laundering

BNM, FICG to Co-host AML/CFT Hackathon in June

21/04/2023

The hackathon will be hosted with regional FIU body FICG to “search for creative solutions to curb financial crimes, particularly scams”.

Market Abuse

CSRC Investigating GF Securities for Underwriting Failures

21/04/2023

The investigation is related to a 2018 share issuance for which Hong Kong-listed GF Securities served as an underwriter.

Resolution & Recovery

EU Proposes to Adjust Bank Crisis Management Framework

20/04/2023

The proposal will facilitate the use of deposit guarantee schemes and resolution funds to shield depositors from bearing losses in banking crises.

Trading & Investment

CFETS Invites Foreign Investors to Apply for Membership

20/04/2023

Foreign institutional and central bank-like investors investing in China’s bond market can apply to become CFETS members and participate in the FX market.

Climate Risk

Verra Publishes New Draft Methodology for REDD Projects

20/04/2023

The updated draft comes after investigative journalists reported finding that most of Verra’s forest carbon offsets do not represent genuine carbon reductions.

Conduct, Culture & Accountability

Dubai: KPMG Ordered to Pay Investors Over Audit Violations

20/04/2023

The court said KPMG Lower Gulf committed “many violations” of international auditing standards and ordered the firm to pay investors $231mn.