AML / KYC

Terrorist Financing Threat Requires More Effective Response

10/03/2020

The current approach to terrorist financing is one-dimensional, overly simplistic and outdated, says a new paper from RUSI’s Centre for Financial Crime and Security Studies.

AML / KYC

India: Yes Bank Co-founder Arrested Over Illicit Kickbacks

10/03/2020

The arrest comes just days after the RBI seized control of Yes Bank due to its inability to raise capital to restore liquidity and address loan losses and credit downgrades.

Securities / Derivatives

S. Korea Tightens Short Selling Rules to Curb Market Volatility

10/03/2020

Starting from Wednesday, the new rules will extend the current 1-day prohibition on ‘overheated short-selling stocks’ to 10 days, while lowering the thresholds for the designation.

Japan Approves Trillion-Yen Aid Package to Support Economy

10/03/2020

The package includes low- and zero-interest loans for the hardest hit SMEs and self-employed workers, and additional support for larger companies through public financial institutions.

Uncategorised

ASIC Consults on Advice Fee Consent, Independence Disclosures

10/03/2020

The legislative instruments ASIC proposes are based on draft legislation for Royal Commission reforms – due to come into effect in July.

Enforcement

Woori Financial Chair Seeks Injunction Against FSS Sanctions

10/03/2020

If the injunction is granted, it could clear the path for Woori Financial Group chairman Sohn Tae-sung to lead the group for another three-year term.

Fintech / Regtech

JPX to Test DLT Information Sharing in Securities Post Trade

10/03/2020

The pilot testing will seek to address inefficiencies in the securities post-trade process that arise as a result of data and workflow mismatches between trading counterparties.

Securities / Derivatives

CSRC Loosens Rules on Venture Capital Divestment

10/03/2020

The move is said to be aimed at strengthening support for the real economy by allowing VC and PE firms to more quickly reinvest in startup firms.

Australia: ‘Perfect Storm’ of Regulatory Change Squeezing Smaller Banks

09/03/2020

The Customer Owned Banking Association is calling for the government to reassess the approaching wave of banking regulation, as record low interest rates squeeze margins.