On 15 August 2023, the Argentine Securities and Exchange Commission (Comisión Nacional de Valores or CNV) issued General Resolution No. 971/2023 to limit the purchase and sale of fixed-income marketable securities denominated and payable in US dollars issued by the Argentine Republic under local or foreign law.
The Central Bank of Egypt recently published regulations setting out the licensing and regulatory framework for digital banks in Egypt (“Digital Bank Regulations”) which came into force on 12 July 2023. The Digital Bank Regulations will effectively allow for the establishment and operation of digital banks in Egypt, thus taking a significant step in aligning the country with global trends in financial technology and catering for the needs of a growing Egyptian financial market.
The Financial Regulatory Authority recently issued decrees No. 139, No. 140 and No. 141 completing and complementing the Financial Technology L aw No. 5 of 2022 which sets out the framework for the development and use of Fintech in non-banking financial services. The decrees, which came into force on 11 July 2023, come as part of the FRA’s continuing efforts to transition Egyptian financial markets towards digitization by encouraging the use of Fintech.
Baker McKenzie is proud to present a series of webinars aimed at helping regulators, legal practitioners and business leaders develop a deeper understanding of law and ESG issues in the Asia Pacific region.
The Government of Spain has approved the creation and operating regulation of the Ultimate Beneficial Ownership Registry, by means of Royal Decree 609/2023 of 11 July 2023, which was published today in the Official State Gazette. This registry is configured as a central and public registry, through which information on ultimate beneficial ownership of Spanish legal entities and other entities or structures without legal personality can be generally accessed.
In brief The UK’s Financial Conduct Authority (FCA) plays a key role in monitoring how UK-regulated financial institutions…
Supreme Decree No. 006-2023-JUS has been published in the official gazette El Peruano. It provides that virtual asset service providers are obligated subjects and must report to the Peruvian Financial Intelligence Unit in matters of prevention of money laundering and financing of terrorism.
Last week the SEC published new proposed rules and amendments to address certain conflicts of interest associated with the use of Predictive Data Analytics by broker-dealers and investment advisers in interactions with investors. The wide-ranging proposal would require firms to implement detailed policies and procedures to identify and “eliminate or neutralize” the effects of such conflicts of interest.
On 31 July 2023, the Monetary Authority of Singapore (MAS) published a Consultation Paper setting out a proposed regulatory framework for Single Family Offices (SFOs) in Singapore. The new measures under this proposed framework allows MAS to enhance its surveillance and defense against money laundering risks within the SFO sector.
On 3 August 2023, the Argentine Securities and Exchange Commission issued General Resolution No. 969/2023 to restrict the purchase and sale of fixed-income marketable securities denominated and payable in US dollars issued by the Argentine Republic, as well as transfers of such marketable securities to or from foreign depositories.