Fraud, Scams & Cybercrime

Singapore Police Charge Daughter of Hin Leong Founder

04/08/2021

Lim Huey Ching instructed a Hin Leong employee to ensure deleted items could not be recovered and to permanently dispose of server backups.

Cryptocurrency

Korean Crypto Exchanges Start to Close Amid Regulatory Pressure

04/08/2021

Up to 11 cryptocurrency exchanges in Korea are planning to shut down after their deposit accounts were linked to fraudulent activities.

Clearing & Post-Trade

CSRC Grants QFI Custodian Licence to BNP Paribas

04/08/2021

The licence will allow BNP Paribas to work with foreign institutional investors to facilitate their access to China’s equities and bond markets.

Fraud, Scams & Cybercrime

Crypto Crime Reaches Record Levels in Hong Kong

04/08/2021

Victims lost HK$214m in cryptocurrency crimes in the first half of 2021, compared to HK$114.4mn across all of 2020.

PEPs & Sanctions

US Investment Ban on 59 Chinese Companies Takes Effect

04/08/2021

US persons that have not yet divested their holdings in 59 companies that operate in the defence or surveillance technology sectors have until 3 June 2022 to do so.

Conduct, Culture & Accountability

Hong Kong SFC Fines UBS Over Regulatory Breaches

03/08/2021

The breaches involve research report disclosures, telephone recordings, client derivatives knowledge assessments, and structured product sales.

Anti-Money Laundering

EBA Issues Guidance on Role of AML Compliance Officers

03/08/2021

Where a financial services firm is part of a group, the guidelines provide that a group AML/CFT compliance officer be appointed at the parent company level.

Credit Risk

RBNZ to Tighten Mortgage Lending Standards From October

02/08/2021

The RBNZ will further restrict high-LVR lending, and also consider the use of DTI restrictions and interest rate floors.

Trading & Investment

OSE, TOCOM Set to Launch J-GATE 3.0 on 21 September

02/08/2021

The next-generation derivatives trading system known as J-GATE3.0 will go live on 21 September 2021.