AML / KYC

Spanish Court Penalises Four ICBC Employees for AML Violations

06/07/2020

Criminal groups deposited millions of euros cash into accounts at ICBC Spain using split payments, in-house accounts and false identity documents to evade detection.

Uncategorised

HKEX Launches First Tranche of MSCI Futures Contracts

06/07/2020

HKEX has launched ten new index futures contracts, part of its new licensing agreement with MSCI announced in May.

Securities / Derivatives

PBOC Announces Planned Enhancements to Bond Connect

06/07/2020

The enhancements will include measures to reduce fees, extend trading hours, expand Bond Connect trading platforms; and enhance primary market service offerings.

Enforcement

ASIC Penalises Credit Suisse for Breaching Trading Rules

05/07/2020

Credit Suisse did not match client orders for on-market buy-backs on an order book as is required by ASIC’s market integrity rules.

Securities / Derivatives

Nearly 500,000 Australians Deplete Retirement Savings

05/07/2020

Industry Super Australia estimates that 480,000 Australians have wiped out their superannuation savings through the government’s early release scheme.

Capital / Liquidity

State Council Authorises Local Governments to Fund Small Banks

05/07/2020

China’s State Council has reportedly agreed to allow local governments to purchase convertible bonds issued by certain small and midsize banks.

AML / KYC

Global Banks Seek Clarity on ‘Hong Kong Autonomy Act’

05/07/2020

Under the legislation, banks can be penalised for conducting a ‘significant transaction’ with Chinese individuals or entities named as having contributed to the erosion of Hong Kong’s autonomy.

Securities / Derivatives

BSP On Course to Issue Central Bank Securities in Q3

05/07/2020

February 2019 amendments to the Central Bank Act restored the BSP’s authority to issue debt paper as part of its regular operations to manage liquidity and monetary policy.

AML / KYC

Singapore Authorities Probe Two Companies with Wirecard Links

04/07/2020

Citadelle Corporate Services is said to have handled Wirecard monies without a trust business licence. Senjo Group is said to have falsified accounts.