Enforcement

SFC Fines BEA for 13 Year Failure to Segregate Client Securities

17/09/2020

There was no evidence of client loss as a result of BEA’s regulatory breaches, and the bank has undergone remedial actions to enhance its internal systems and controls.

Securities / Derivatives

ASX Revises Temporary Emergency Capital Raising Measures

17/09/2020

To use the emergency capital raising measures, companies must now satisfy ASX that they are raising capital predominantly to address a Covid-19 related impact.

AML / KYC

SWIFT Announces Enhancements in Payments, Securities Processing

17/09/2020

The enhancements will be made available through a next-generation digital platform that will “fundamentally transform” payments and securities processing, SWIFT says.

AML / KYC

Chinese Police Target Offshore Gambling via E-Commerce Platforms

17/09/2020

Chinese police say at least $2bn has been laundered to offshore gambling sites through fake e-commerce purchases and other methods.

HKMC Annuity Launches Video-Conferencing Application Service

17/09/2020

In a pilot run approved by the Insurance Authority under the Insurtech Sandbox, customers can apply for HKMC Annuity plans through video-conferencing.

BOT Enhances Fair Service Rules for Banks, Asset Managers

17/09/2020

Besides banks and their subsidiaries, the rules have been extended to cover also asset managers and nanofinance operators.

Securities / Derivatives

CSRC Issues Draft Rules for Private Equity Funds

17/09/2020

The rules seek to address concerns that some private equity funds are being used as vehicles for public fundraising and qualified investor requirements are being circumvented.

Capital / Liquidity

Korean Financial Groups to Start Publishing Integrated Disclosures

16/09/2020

Samsung, Mirae Asset, Hanwha, Hyundai Motor, Kyobo and DB will start publishing group-wide integrated disclosures from end-September.

Enforcement

Singapore Convicts Three Individuals for Unauthorised Trading

16/09/2020

The former trading representatives acted on the instructions of a fourth individual to use accounts belonging to family, friends and clients to buy and sell Skyone shares.