Market Infrastructure

Hong Kong, Mainland Exchanges to Include ETFs in Stock Connect

28/12/2021

Eligible ETFs will be included in Stock Connect. Business and technical preparations are expected to take about six months to complete.

Enforcement

HK ICAC Charges Six Former AXA Employees For Fraud

24/12/2021

The ICAC charged the six former employees with conspiracy to defraud AXA of over HKD 950,000 in commissions and bonuses.

Korea FSC Adjusts Card Processing Fee Rates

24/12/2021

The revised fees will take effect from January 2022 and save businesses almost half a trillion won.

Enforcement

UK Regulator Fines StanChart Over Liquidity Reporting Errors

24/12/2021

The PRA said StanChart’s internal controls and governance arrangements underpinning its regulatory reporting were not implemented or operating effectively.

Market Infrastructure

HKMA Moves to Reduce LIBOR-related Reporting Frequency

24/12/2021

The move from monthly reporting back to quarterly reporting means the next reporting position after December 2021 will be March 2022.

Enforcement

US Authorities Criminally Convict NatWest on Spoofing Charges

24/12/2021

NatWest traders engaged in schemes to defraud in connection with spoof orders designed to profit from manipulation of the US Treasury securities and futures markets, the DOJ said.

AML / KYC

HKMA Asks Banks for ‘Active Participation’ in CDI Initiative

23/12/2021

The HKMA is seeking to link the new CDI to the Commercial Credit Rating Agency and Companies Registry to enhance risk management in the banking industry.

Securities / Derivatives

Taxing Securities Trades Will Reduce Competitiveness, says SET President

23/12/2021

SET president Pakorn Peetathawatchai Pakorn was responding to reports that the government is planning a 0.1 percent tax on securities trades.

Fintech / Regtech

Cambodia, Laos to Step Up Cross-Border Cooperation in 2022

23/12/2021

The National Bank of Cambodia and Bank of the Lao PDR will cooperate on payment innovation and cross-border connectivity, among other areas.