Market Infrastructure

HKEX Launches HKD-RMB Dual Counter Model

19/06/2023

24 Hong Kong-listed companies have started offering both HKD and RMB trading counters.

AML / KYC

US Judge Splits Bankman-Fried Charges into Two Separate Trials

16/06/2023

Extradition from the Bahamas was agreed to based on only eight charges, not the full 13 charges Sam Bankman-Fried now faces.

Capital / Liquidity

China Set to Unveil New Stimulus, On Top Of Rate Cuts

15/06/2023

Regulators are expected to further lower mortgage costs, boost re-lending through policy banks, and cut banks’ reserve requirements.

Crypto / Digital Assets

US SEC Responds to Court Order on Crypto Rulemaking

14/06/2023

The SEC said it has not yet decided what action to take regarding Coinbase’s rulemaking petition, but that it will provide an update by 11 October 2023.

AML / KYC

Experts Critical of FATF Effectiveness in Combating Kleptocracy

14/06/2023

Panellists at a high-level conference expressed concern that countries with strong connections and clout received lenient treatment from the FATF.

Capital / Liquidity

UBS Closes Credit Suisse Deal, Imposes ‘Red Lines’ on Bankers

13/06/2023

FINMA said its intensive supervision will “definitely continue”. MAS said it expects both banks to handle the implications for jobs “responsibly”.

Crypto / Digital Assets

HKMA to Start ‘Paving the Way’ for e-HKD Implementation

12/06/2023

The HKMA expects that it will take at least two to three years to build a wholesale layer of production grade for possible e-HKD implementation.

AML / KYC

Sanctions Enforcement Not a ‘Credible Threat’: RUSI Roundtable

12/06/2023

Roundtable participants said lessons should be learnt from the significant penalties that drove banks to observe the Iran sanctions regimes.

AML / KYC

Ukraine Calls on FATF to Add Russia to Blacklist

09/06/2023

Ukraine says Russia has engaged in money laundering, sanctions evasion, terrorism financing, human trafficking, proliferation financing, and cyber-attacks.