Crypto / Digital Assets

New Virtual Asset Law Takes Effect in South Korea

19/07/2024

The FSC expects the law to establish a foundation to provide safe protection for users and sound order in the virtual asset market.

AML / KYC

FATF Issues Update on Standards Work for the NPO Sector

19/07/2024

The FATF will revise Recommendation 1 to better enable financial inclusion by improving the risk-based approach and supervision.

ESG / Sustainability

FSB Publishes Stocktake on Nature-related Financial Risks

19/07/2024

Work by authorities indicates that FIs face large exposures to nature-related physical risk via their investments and financing activities.

Enforcement

FSS Korea to Sanction Execs for Internal Control Issues

18/07/2024

FSS sets out how it will decide on imposing sanctions on CEOs and executives who violate their internal control management duties.

Crypto / Digital Assets

BCBS Publishes Final Standards for Bank Crypto Exposures

17/07/2024

The BCBS published final amendments to the prudential standard and the final disclosure framework for banks’ cryptoasset exposures.

Fintech / Regtech

FSB to Update 2017 Paper on AI-related Risks

17/07/2024

FSB Chair Klaas Knot said this work is not currently aimed at developing policy options or regulatory standards.

Big Picture

FSB Proposes Measures to Address Cross-border Payment Frictions

17/07/2024

Two new FSB reports offer policy recommendations to address legal, supervisory and regulatory frictions in cross-border payments.

Crypto / Digital Assets

FSC Korea Issues Regulations for New Virtual Assets Law

16/07/2024

The regulations specify how the virtual asset market will be supervised and illegal activities will be investigated. The new law takes effect on Friday.

Market Infrastructure

HKEX Unveils List of Mainland ETFs Being Added to Stock Connect

16/07/2024

Starting 22 July, 85 mainland-listed ETFs will be added to Northbound trading and 6 HK-listed ETFs will be added to Southbound trading.