FINRA recently updated the industry on observations to date from its August 2021 sweep on broker-dealer practices and controls concerning the opening of options accounts and related issues (options account supervision, communications, and diligence).
Potentially in connection with the recent events rocking the crypto industry, FINRA is conducting a new sweep on “Crypto Asset Communications” by broker-dealers. If they haven’t already received the request, broker-dealers with crypto-related affiliates likely will be contacted. Notably, this is the first announced sweep that FINRA has issued in over a year.
QFLP stipulates that foreign exchange funds can be settled in RMB at the fund level and make equity investment in RMB. In other words, foreign exchange settlement will be approved in advance at the time when a QFLP enterprise is set up, instead of when the capital is called.
A number of factors are driving up the incidence of climate related litigation and enforcement which has been most marked in North America but other regions are now catching up. Financial institutions given their critical place in financing economic activity are increasingly the focus of action. Financial institutions are well advised to prepare for and mitigate the risk, for example, from reviewing their corporate strategies around climate change and carbon reduction to taking note of regulators’ expectations.
Covering six key priorities related to digital assets. While this does not constitute a change in policy, it does highlight the administration’s desire to encourage both regulation and innovation in this space.
Bank Indonesia has launched a cooperation with the Bank of Thailand that enables consumers and merchants in both countries to make and accept instant cross-border quick response (QR) payments for goods and services. This is in line with the principles of the ASEAN Central Bank Governors’ Meeting in April 2022 (which is one of Indonesia’s G20 Presidency Events) and Indonesia’s Payment System 2025 Visions. The Quick Response Indonesian Standard (QRIS) and Thai QR codes will be used in this cooperation.