Securities / Derivatives

ICE Futures Singapore to Launch Micro US, Europe Index Futures

01/09/2021

The Micro MSCI USA and Micro MSCI Europe Index futures contracts will begin trading on ICE Futures Singapore from 11 October 2021.

ESG / Sustainability

LSEG Launches Sustainable Finance Innovation Unit in Singapore

01/09/2021

The new unit is supported by MAS and will focus on creating sustainable finance capabilities across Singapore’s fintech ecosystem.

Securities / Derivatives

HKMA, SFC to Develop Concentration Risk Alerting System – Report

01/09/2021

The new system is intended to detect excessive risk-taking by banks and investment funds to guard against an Archegos style collapse.

AML / KYC

OFAC Fines Bank of China UK for Sudan Sanctions Breach

01/09/2021

BOC UK’s internal customer database did not include reference to Sudan in the name or address fields of two customers despite knowledge of their location.

Securities / Derivatives

BlackRock Launches First Retail Fund Through New China Unit

01/09/2021

The fund will be distributed by three Chinese lenders. BlackRock plans to roll out passively-managed funds in China in the future as well.

AML / KYC

New Zealand Court Penalises TBS Bank for AML Breaches

31/08/2021

The court action against TSB Bank was the first civil proceedings brought by the RBNZ under the AML/CFT Act.

Market Infrastructure

India Financial Reporting Authority Seeks Auditor Oversight Powers

31/08/2021

The National Financial Reporting Authority is preparing a draft bill to propose to the government that will grant it greater financial autonomy and broader regulatory powers.

Enforcement

Seoul Court Rules Against FSS in DLF Mis-selling Case

31/08/2021

An FSS decision to ban Woori Financial Group Chairman Son Tae-seung from the financial industry for three years is effectively nullified.

Australian Govt Freezes ASIC Levy for Financial Advisers

31/08/2021

Treasury will  review the ASIC Industry Funding Model to ensure it remains fit for purpose amid structural changes taking place in the advice industry.