Anti-Money Laundering

India, US Pledge to Take Stronger Action Against Financial Crime

20/10/2021

Indian finance minister Nirmala Sitharaman and US treasury secretary Janet Yellen also pledged to further engage on climate change.

Conduct, Culture & Accountability

Australian Court Fines Colonial First State for Misleading Members

19/10/2021

The court said Colonial First State Investments engaged in a 26-month “concerted campaign” that sought to take advantage of members.

Structural Regulation

FMA Sets Target Dates for Financial Advice Licensing

19/10/2021

Transitional licences under the new financial advice regime will expire on 16 March 2023. Providers are asked to apply for full licences ahead of time.

Conduct, Culture & Accountability

NZ FMA Censures Jarden Securities for Client Money Breaches

19/10/2021

OM Financial, which amalgamated with Jarden in March 2021, transfered its own money into the trust account designated to hold investor money.

Trading & Investment

Tokyo Stock Exchange Plans to Extend Trading Hours – Report

18/10/2021

Japan’s trading day runs for just five hours each day, an outlier among major markets. The bourse will reportedly propose a 30-minute extension.

Anti-Money Laundering

SFC Penalises IPO Sponsor Over Substandard Due Diligence Work

18/10/2021

Ample Capital Limited failed to conduct adequate due diligence on suspicious cash settlements and to keep proper records of its due diligence work.

Trading & Investment

HKEX Launches First China A-Share Futures Contract

18/10/2021

The contract is based on the MSCI China A 50 Connect Index, which tracks the performance of 50 key Shanghai and Shenzhen stocks available via Stock Connect.

Structural Regulation

Goldman Approved to Take Full Ownership of China Securities Unit

18/10/2021

Goldman Sachs becomes just the second US bank to gain full ownership of its Chinese entity, after JP Morgan in August.

Cybersecurity

RBI Penalised StanChart, SBI for Regulatory Violations

18/10/2021

The RBI cited non-compliance with its directions on customer protection, cybersecurity, outsourcing, and reporting.