Enforcement

Australia Passes Law Enhancing Whistleblower Protections

22/02/2019

The law expands the whistleblower definition, extends protections for those who report misconduct, and requires companies to have a whistleblower policy.

Enforcement

ASIC Finalises HSBC’s 2016 Enforceable Undertaking

21/02/2019

Under HSBC Australia’s remediation programme, the bank offered about A$690,000 in compensation to 104 clients who may have received inappropriate advice.

Enforcement

CSRC Probes Losses at GF Securities Hedge Fund

21/02/2019

The CSRC is seeking details about large trading losses at a hedge fund managed by GF Securities’ Hong Kong unit. Citigroup faces up to $180mn in losses on a loan to the fund.

Enforcement

Australia Expands Remit of New Financial Complaints Authority

21/02/2019

As the Royal Commission considered misconduct cases dating back to 1 January 2008, AFCA’s remit will be expanded to enable reviews of eligible complaints over the same period.

Enforcement

Hong Kong Finance Manager Convicted of Insider Dealing

21/02/2019

A GEM stock finance manager was in possession of inside information related to unaudited losses and an impending share suspension when he and his father sold their shares in the company.

Market Infrastructure

EU, Singapore Agree to Mutually Recognise Derivatives Venues

21/02/2019

Singapore and EU-based firms will be able to trade derivatives on approved platforms based in either jurisdiction following proposed equivalence decisions by both regulators.

Securities / Derivatives

Daiwa Securities Completes Trade Matching POC Using DLT

21/02/2019

Japan’s Daiwa Securities Group has announced the completion of a proof of concept studying the effectiveness of using distributed ledger technology in trade matching processes.

Capital / Liquidity

India Infuses $6.8bn into 12 Public Sector Banks

21/02/2019

The Indian government has approved capital infusions into 12 public sector banks amounting to $6.8bn as part of its bank recapitalisation plan.

Fintech / Regtech

Japan to Allow Non-Banks to Handle Large Remittances

21/02/2019

In a bid to improve remittance services in the country and promote fintech, Japan plans to ease limits on non-banks providing money transfer services.