Cybersecurity

FSB Seek Global Harmonisation in Cyber Incident Reporting

20/10/2021

The FSB will promote convergence in cyber incident reporting by developing best practices, defining information to be shared, and creating common terminologies.

Anti-Bribery & Corruption

Credit Suisse Settles Charges Over Mozambique ‘Secret Debt’

20/10/2021

Transactions that raised over $1bn were used to “perpetrate a hidden debt scheme”, pay kickbacks to investment bankers, and bribe government officials.

Clearing & Post-Trade

LCH Expands Eligible Collateral to Include SGD Securities

20/10/2021

LCH says accepting SGD collateral will be an important tool for improving liquidity management and optimising margin costs.

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.