A two-year reprieve means the sentence will likely be commuted to life imprisonment for the 70-year old former chairman, after he was convicted for bribery, corruption and embezzlement.
Citigroup, JP Morgan, LPL Financial, Morgan Stanley and Merrill Lynch failed to properly monitor custodial accounts to ensure assets were transferred to beneficiaries once they came of age.
The new stewardship code will help institutional investors protect their clients' wealth, improve corporate governance, and promote the development and regulation of the securities market.
Two Japan Post Holdings subsidiaries are required to suspend insurance product sales for three months and submit business improvement plans by end-January.
The legislation will oblige ASIC and APRA to cooperate, share information with each other, and notify each other if they have a reasonable belief that there has been a breach of the other’s legislation.
Compared with the December 2018 list, the HLA requirement has increased for Standard Chartered and decreased for Hang Seng Bank.
The 'Office of Informant Protection' is charged with receiving and processing information on insider trading disclosed by whistleblowers, and with protecting their identities.
The FSC will expand funding for innovative companies and key industries, strengthen financial consumer protections, tighten mortgage lending rules, and facilitate debt restructuring.
The transition to three market sections is expected to be completed within H1 2022, but the changes will be implemented gradually in phases to mitigate the impact on listed companies.
The case reportedly relates to the official's supervision of Baoshang Bank which was taken over by regulators in May due to "serious credit risks".