Enforcement

Taiwan FHC Fined for Leaking Data to Major Shareholder

03/08/2022

China Development Financial Holding Corp was fined TWD 20mn. Its subsidiaries China Life and KGI Securities were fined TWD 6mn and TWD 2.4mn respectively.

Securities / Derivatives

Shanghai STAR Market Celebrates Three Years Since Launch

03/08/2022

The STAR Market now accounts for about 6.6% of all mainland listed firms. A market-making system will soon be launched to enhance liquidity.

AML / KYC

FFIS Takes Stock of AML & Fraud Data Sharing Platforms

03/08/2022

New paper covers 15 different private-private financial information sharing platforms across the US, UK, Singapore, the Netherlands, Switzerland, Estonia and Australia.

Enforcement

SFC Fines TC Capital for Due Diligence Failures in Sponsor Work

03/08/2022

The SFC said there was a need to send a “strong deterrent message” to the industry and market that “sponsor failures will not be tolerated”.

BNM Consults on New Requirements for Adjusters

03/08/2022

The proposed rules impose ‘fit and proper’ requirements on shareholders and key responsible persons of adjusters.

Bangladesh Seeks IMF Loan, Takes Measures to Boost FX Inflows

03/08/2022

Bangladesh has sufficient FX reserves for over five months of imports, providing some cushion. It has also taken measures to address its falling FX reserves.

Securities / Derivatives

Taiwan FSC Tightens Rules for Senior Securities, Futures Personnel

03/08/2022

The rules are aimed at preventing directors from taking on positions at other firms that could affect their performance or create conflicts of interest.

AML / KYC

Moscow Exchange Commences Trading in First Yuan Bonds

03/08/2022

Yuan-denominated bonds will open up an additional source of FX liquidity for Russian borrowers, who have been cut off from the dollar, euro and other foreign currencies.

AML / KYC

US Imposes New Round of Sanctions Against Russia

03/08/2022

The sanctions target Kremlin-connected elites, including retired Olympic gymnast Alina Kabaeva, who is understood to be Putin’s girlfriend.