AML / KYC

China Issues Implementing Rules for ‘Unreliable Entity List’

22/09/2020

Foreign firms and individuals could be hit with trade, investment and visa restrictions is they fail to “correct” their behaviour within a time limit.

Enforcement

Saxo Japan Ordered to Bolster Controls After Data Breach

22/09/2020

The breach included clients’ names, contact details, date of birth, bank account information, and identity verification documents of 750 clients.

Enforcement

Korea FSS Fines Four Foreign Fund Managers for Naked Short Selling

22/09/2020

One firm was fined KRW 360mn for failing to borrow KRW 13mn worth of stock prior to short-selling, a penalty of more than 27 times the amount short-sold.

Korea FSS to Ease Restrictions on External Network Access

21/09/2020

The FSS will ease restrictions on external access to network systems at local financial firms, in line with new norms amid the Covid-19 pandemic.

Securities / Derivatives

Malaysia Launches Physically Delivered MGS Futures Contract

21/09/2020

The revised contract will enhance risk management at FIs and allow them to hedge interest rate risks, while also providing new trading opportunities for other market participants.

Securities / Derivatives

IOSCO Publishes Guidance on Debt Raising Conflicts of Interest

21/09/2020

The final guidance presents nine measures that address potential conflicts of interest and associated conduct risks when issuers are preparing to raise debt finance.

AML / KYC

Australian Banks Flagged in SARs from FinCEN Files

21/09/2020

Among the potentially suspicious transactions were more than $174mn of possibly illicit funds that flowed through Australian banks.

AML / KYC

MAS ‘Closely Studying’ Singapore Mentions in FinCEN Files

21/09/2020

The SARs contained in the FinCEN Files flagged 1,781 transactions that flowed through Singapore as potentially suspicious.

BOT Sets Out New Rules for ‘Digital Personal Loans’

21/09/2020

Under the regulations, alternative data including payment information relating to water, electricity and telephone bills can be used to support loan applications.