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Market Infrastructure
New York State Budget to Include Provisions to Ease LIBOR Switch
By Editors | 24/01/2021
The state budget plan would reportedly allow legacy LIBOR contracts to use the replacement rate recommended by the Fed Board, the New York Fed, or the ARRC.
AML / KYC
Anti-Money Laundering a Priority for Incoming Treasury Secretary Yellen
By Manesh Samtani | 24/01/2021
Incoming Treasury Secretary Janet Yellen thanked Congress for passing the AMLA, widely considered to be the most significant overhaul of AML legislation in the US since 2001.
AML / KYC
China Sanctions 28 Trump Officials as Biden Takes Office
By Editors | 21/01/2021
The 28 officials and their immediate family members will be barred from entering China, Hong Kong and Macao, and restricted from doing business with China.
Securities / Derivatives
Hong Kong, Thailand Agree Mutual Recognition of Funds
By Editors | 20/01/2021
Each Hong Kong or Thai fund approved under the MRF scheme will have to appoint a firm in the other market to serve as its representative.
ESG / Sustainability
Thailand SEC Declares Support for TCFD, Enhanced ESG Disclosures
By Sanday Chongo Kabange | 18/01/2021
The move will lead to better disclosure of ESG information in the capital market, including information related to greenhouse gas emissions.
AML / KYC
US Sanctions Six More Chinese, Hong Kong Officials
By Editors | 17/01/2021
The latest designations are a response to the arrest of 53 pro-democracy politicians and activists this month. Hong Kong’s government called the move “insane, shameless and despicable”.
Fintech / Regtech
Philippine SEC Approves First Crowdfunding Platform
By Editors | 14/01/2021
Investree Philippines is the first crowdfunding intermediary and funding portal to register with the SEC since rules covering the activity took effect in July 2019.
Sanctions
HKMA May Replace State Street as Manager of Tracker Fund
By Editors | 13/01/2021
State Street will no longer be able to buy shares in companies sanctioned by the US, including China Mobile and China Unicom.
AML / KYC
Deutsche Bank to Pay $130m to Resolve FCPA Violations, Fraud Charges
By Editors | 11/01/2021
The bank’s employees and agents concealed bribes paid to obtain and maintain lucrative business in Saudi Arabia, Abu Dhabi, Italy and China.
AML / KYC
China Issues New Rules to Protect from Foreign Sanctions
By Manesh Samtani | 11/01/2021
Global businesses that comply with sanctions deemed illegal by MOFCOM can be sued for compensation in Chinese courts.
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