Enforcement

Scotiabank Resolves DOJ, CFTC Spoofing Charges for $127.4m

20/08/2020

Four Scotiabank traders based in New York, London and Hong Kong placed thousands of orders in precious metals futures between 2008 and 2016 to manipulate prices.

Capital / Liquidity

New Zealand Expands Business Finance Guarantee Scheme

20/08/2020

The maximum loan amount and maximum term are being increased, and more businesses will have access to the scheme, until 31 December.

Market Infrastructure

Eximbank Issues South Korea’s First SOFR-linked Bonds

20/08/2020

State lender Eximbank is the first financial institution in South Korea and the third in Asia to issue SOFR-linked bonds.

Securities / Derivatives

Singapore Authorities Charge Five Remisiers for False Trading

20/08/2020

The five individuals charged were former remisiers for Phillip Securities, OCBC Securities, DBS Vickers Securities, and Maybank Kim Eng Securities.

AML / KYC

APAC Regulators Issue Nearly $4bn in AML Fines in H1 2020

19/08/2020

Fraudulent activity brought on by Covid-19 related initiatives may result in enforcement actions later in the year and into 2021, says Fenergo’s Rachel Woolley.

Malaysia Bolsters Debt Resolution Support for SMEs

19/08/2020

From 1 September, SMEs can seek debt restructuring services, financial education and advisory from the Credit Counselling and Debt Management Agency, known as the AKPK.

Enforcement

Top Chinese Court Issues Guidance on Punishing ChiNext Crimes

19/08/2020

The “zero tolerance” guidance came days before the first batch of companies are set to debut under ChiNext’s new registration-based system.

Enforcement

MAS Bans Two Individuals for Fraud and Dishonest Conduct

19/08/2020

Prohibition orders were issued against former representatives of Prudential Assurance Company Singapore and Bank of Singapore in two unrelated cases.

Securities / Derivatives

MSCI Launches Climate Change Indexes for China Stocks

19/08/2020

The new indexes will allocate higher weightings to stocks with lower carbon emissions. MSCI is in talks on the creation of investment products based on the new indexes.