Fintech / Regtech

Denmark Introduces Mandatory Data Ethics Disclosure Rule

08/07/2020

From 1 January 2021, large and listed Danish companies will disclose information about their data ethics policy, AI tools and algorithms in annual reports.

Capital / Liquidity

APRA Extends Regulatory Approach For Covid-19 Loan Deferrals

08/07/2020

APRA will also allow banks to treat loans restructured by 31 March 2021 as ‘performing’ for capital and regulatory reporting purposes.

AML / KYC

New York Regulator Fines Deutsche Bank for AML Failures

08/07/2020

Deutsche Bank has been fined $150mn for its dealings with known sex trafficker Jeffrey Epstein and its correspondent banking relationships with Danske Bank Estonia and FBME Bank.

Securities / Derivatives

Record Korea Budget to Support Corporate Bond-buying

08/07/2020

The supplementary budget will cover a 1tr won capital injection for an SPV that will purchase low-rated corporate bonds and commercial paper.

Enforcement

Ex-ICBC Shanghai Boss Pleads Guilty to Bribery

08/07/2020

Prosecutors said Gu Guoming took advantage of his position to help others obtain loans and project contracts, and illegally received bribes worth over 136 million yuan.

AML / KYC

UK Imposes First Sanctions Over Human Rights Abuses

07/07/2020

The UK has designated 25 Russians, 20 Saudi Arabians, two Myanmar generals, and two North Korean organisations. Their UK assets will be frozen.

Securities / Derivatives

Malaysia to Promote Greater Capital Market Innovation

07/07/2020

The SC will invite innovative stockbroking models such as digital-only brokers and algo trading platforms. Bursa’s trading and clearing memberships will be separated.

Securities / Derivatives

SEBI Finalises Amendments to Investment Adviser Rules

07/07/2020

The final rules increase the net worth, qualification and experience requirements for investment advisers and introduce client-level segregation of advice and distribution activities.

Enforcement

FSS Korea Considers Legal Action Against HK Hedge Fund

07/07/2020

Large losses on leveraged positions at Hong Kong-based Gen2 Partners earlier this year prompted a liquidity squeeze and a freeze on early redemptions.