Alternative Markets

IOSCO Warns of Emerging Risks in Private Finance Markets

15/09/2023

IOSCO says private finance markets are “inherently opaque”, and that connections with other parts of the financial system may allow risks to spill into public markets.

PEPs & Sanctions

Gibson Dunn’s David A. Wolber Discusses Compliance Challenges with Sanctions

15/09/2023

David A. Wolber, Of Counsel at Gibson Dunn, spoke at Regulation Asia’s Fraud & Financial Crime Asia 2023 event on 13 July. At the sidelines of the event, he discussed how Singaporean banks and companies face increasing compliance challenges in the sanctions space, citing a couple of reasons. He also outlined steps to avoid violating sanctions.

Liquidity Risk

PBOC Announces Second RRR Cut for Banks This Year

15/09/2023

The move lowers the weighted average RRR for banks to around 7.4 percent, compared to more than 15 percent in 2018.

PEPs & Sanctions

US Government Unveils 150 New Russia-related Sanctions

15/09/2023

The sanctions include two more Russia-based banks along with several Russia-based wealth management consulting, auditing, and investment firms.

Conduct, Culture & Accountability

RHB Investment Bank Fined, Reprimanded for Sponsor Failures

15/09/2023

RHB failed to conduct proper due diligence on an ACE Market listing applicant and to ensure submissions to Bursa Malaysia were complete and accurate.

Trading & Investment

China to Provide Guarantees on Private Enterprise Bonds

15/09/2023

China Securities Finance indicated it would work to provide more credit enhancement support to private enterprises to support bond financing.

Tokenisation

US SEC Settles Second NFT-related Enforcement Action

14/09/2023

Animated web series creator will pay $1mn to settle SEC claims that it conducted an unregistered offering of crypto asset securities. Two commissioners dissented.

Fraud, Scams & Cybercrime

US Court Sentences Co-Founder of “OneCoin” Fraud to 20 Years

14/09/2023

OneCoin was a fraudulent cryptocurrency that was sold through a pyramid scheme to millions of people from 2014-2016, resulting in $4bn in worldwide losses.

Structural Regulation

Australia to Ban Credit Card, Digital Currency Use for Online Gambling

14/09/2023

The  bill will make it illegal for online gambling companies to accept credit cards, credit related products and digital currency as payment methods for online gambling.