Sustainable Finance

COP Presidency Calls for Ambitious Climate Commitments

16/05/2021

Private financial institutions are encouraged to join a net zero alliance, publish transition plans, phase out of coal, and commit to nature-positive finance.

Conduct, Culture & Accountability

CBIRC Issues Warning Against Improper Sales Practices

16/05/2021

In a notice, the CBIRC points to regulatory violations by Ping An Bank in its credit card sales practices which violated the rights and interests of consumers.

Structural Regulation

SEBI Proposes to Reduce Promoter Lock-in Period

14/05/2021

SEBI proposes to reduce the lock-in period for the minimum promoter’s contribution to an IPO from 3 years to one year.

Trading & Investment

UK Exchange Derivatives to Switch to SONIA on 17 June

14/05/2021

The FCA and BOE are encouraging market participants to prepare for and implement changes to standard trading conventions on 17 June.

Market Abuse

Korea: New Rules for Chinese Walls to Take Effect from 20 May

14/05/2021

Financial investment businesses are required to establish internal control standards to prevent information sharing of material nonpublic information between units.

Market Abuse

Hong Kong: Six Current & Former Directors Fined Over Inside Information

14/05/2021

Timely disclosure of inside information is central to the orderly operation of the market and underpins a fair and informed market, the SFC said.

Credit Risk

China: NAFMII Revises Rules for Credit Derivatives

14/05/2021

The rules remove a restriction that prohibited CDS and CLN from being linked to instruments other than non-financial corporate debt.

Anti-Money Laundering

Taiwan FSC Fines Citibank, DBS for AML Violations

14/05/2021

The regulator cited failures related to customer due diligence, review mechanisms, transaction monitoring, risk assessment, and investigations.

Anti-Bribery & Corruption

Singapore: Former BP Director Jailed on Corruption Charges

14/05/2021

The former regional director was also ordered to pay a penalty of SGD 6.2 million and faces additional money laundering charges.