Posts By Editors, Regulation Asia
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506EnforcementSFC Reprimands, Fines Nomura’s Instinet $2.2mn
The firm failed to put in place reasonable controls to ensure non-proprietary orders received execution priority, prevent erroneous and disorderly orders being sent to the market.
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371Australia & NZAustralia to Review Lack of Competition in Banking Sector
The ACCC will examine a potential oligopolistic structure in Australia’s banking sector and review competitive practices that have allegedly led to higher barriers to entry for newcomers.
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363Australia & NZCBA, ANZ to Pay Compensation for Missing Financial Advice Records
CBA and ANZ to pay $69mn and $36.4mn compensation, respectively, for failing to provide documentation of annual customer reviews.
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303Capital RegulationChina to Revive QDII Scheme for Outbound Investment
SAFE has invited financial institutions to seek new quotas under the scheme; institutions' total QDII quota to be capped at 8 percent of fund assets, will not be allowed to apply for fresh quotas if under 70 percent of existing allocations are...
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404FeatureHKMA, HKEX Adopt New Messaging Standard
Monetary authority and stock exchange to use messaging system across cross-border payments and remittances, support ‘open banking’.
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413Asia-PacificSri Lanka Makes Credit Ratings Compulsory for Finance Companies
Licensed finance companies are required to enter into agreement with reputed credit agencies to obtain ratings by 30 April.
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525EnforcementTaiwan Regulator Censures 54 Managers at State Owned Banks
Taiwan FSC censured and demoted 54 managers at seven state banks for their involvement in a $679mn syndicated loan-fraud scandal.
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374InternationalCPMI-IOSCO Publish Multi CCP Stress Testing Framework
Framework supports stress tests examining potential macro-level impact of common stress event affecting multiple CCPs to gauge interdependencies between markets, CCPs and other entities.
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377AML / KYCS.Korea Probes Banks’ Cryptocurrency AML Polices
Financial Services Commission to conduct on-site expectations of three banks with cryptocurrency account relationships.
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368AML / KYCChina Tightens ID Card Verification at Banks
Participating banks are now obliged to report to the police attempts to use ID cards that are fake or belonging to another person.
