Conduct, Culture & Accountability

NZ FMA Censures Derivatives Issuer Over Suitability Checks

05/03/2022

CTRL Investments allowed investors who could not demonstrate the necessary skills and knowledge to trade derivatives.

Tokenisation

US SEC Probes Whether NFTs Are Being Used Like Securities

05/03/2022

The SEC has reportedly sent subpoenas demanding information about NFT offerings that could be raising funds like traditional securities.

Capital Adequacy

Bank Indonesia Offers Incentives for Inclusive Financing Activities

04/03/2022

Banks that expand priority sector credit and inclusive financing beyond certain thresholds can reduce their statutory reserve requirements.

Anti-Money Laundering

UK, UAE Launch New Toolkit Targeting Illegal Wildlife Trade

04/03/2022

Financial institutions worldwide are urged to adopt the toolkit; share it with colleagues, peers and industry partners; and take action to stamp out IWT.

PEPs & Sanctions

DOJ Launches New Task Force Targeting Russian Oligarchs

04/03/2022

Task Force KleptoCapture will use “the most cutting-edge investigative techniques” to identify sanctions evasion and related criminal misconduct by Russian oligarchs.

PEPs & Sanctions

Credit Suisse Attempts to Conceal Records on Russian Clients – Report

04/03/2022

Credit Suisse reportedly asked investors to destroy documents relating to a loan securitisation backed by “jets, yachts, real estate and/or financial assets”.

Fraud, Scams & Cybercrime

Korean Broker and Bank Penalised Over Optimus Mis-selling

04/03/2022

NH Investment & Securities cannot sell new private equity funds for three months. Hana Bank cannot be appointed as a fund trustee for three months.

Structural Regulation

SFC, HKEX Fine HSBC Securities for Regulatory Breaches

04/03/2022

The firm made errors when assigning BCANs to clients. It also oversold China securities due to deficiencies in its order management and algorithmic trading systems.

Trading & Investment

Cambodia Securities Exchange Launches New Mobile Trading App

04/03/2022

The mobile app will help promote the growth of trading and liquidity in Cambodia’s securities market, said CSX chief Hong Sok Hour.