Reports first emerged in February alleging that up to 80% of GSX Techedu users are fake, evidenced by attendance data, server records, and admissions by former employees.
The proceedings relate to violations identified by a FINMA-appointed auditor in relation to Credit Suisse's observation and security activities, and how these activities are documented and controlled.
Following from a November 2017 consultation paper, MAS has set an 18-month transitional period for Singapore financial firms to comply with best execution requirements.
UOB and CapitaLand aim to enhance market confidence in adopting SORA and help accelerate the transition away from SOR, in line with MAS objectives.
The enhancements will fortify the resilience of Singapore's banking sector and financial markets, and enable banks to continue to support the needs of businesses and individuals.
Loan principal payments of eligible corporate customers falling due between November 2020 and April 2021 will be deferred by six months. Trade loans will be deferred by 90 days.
The SFC will remove investment restrictions, expand custodian eligibility requirements, and introduce a statutory re-domiciliation mechanism.
The first batch of new crypto indices will track Bitcoin and Ethereum, and are expected to drive exposures to digital assets in Asia.
Fallback Rate (SOR), the primary fallback reference rate for SOR derivatives, will be permanently discontinued about three years following the fallback trigger.
The two crypto exchange hacks detailed in the complaint are linked to the same group of Chinese actors who laundered over $250mn in stolen cryptocurrency for North Korea in 2018.