Market Abuse

Hong Kong: CMBC Capital, Directors Penalised for Late Disclosure

18/10/2020

CMBC Capital did not make information about significant improvement in the company’s financial performance public in a timely manner.

KYC & CDD

SoW/SoF Checks: What Does Good Look Like?

18/10/2020

Regulation Asia spoke to financial crime compliance experts about the ongoing effort required to achieve and maintain high standards for source of wealth and source of funds checks.

Trading & Investment

HKMA Expects Adherence to ISDA IBOR Fallbacks Protocol

18/10/2020

The HKMA expects authorised institutions to adhere to the Protocol before it takes effect and to encourage counterparties to do the same.

Trading & Investment

FSB Sets Out Global Transition Roadmap for LIBOR Phaseout

18/10/2020

By end-2020, firms should be in a position to offer non-LIBOR loans to customers. By 25 January, firms should adhere to the ISDA fallbacks protocol.

Anti-Money Laundering

APG Releases First Follow-up Report on Pakistan

18/10/2020

The APG says Pakistan has been re-rated from ‘partially compliant’ to ‘compliant’ on Recommendation 29 and has made progress on Recommendation 1.

Emerging Prudential Risks

New Corporate Restructuring Fund Kicks Off in Korea, FSC Says

16/10/2020

The fund is expected to serve as a stepping stone for the establishment of a more vibrant corporate restructuring ecosystem, the FSC said.

Trading & Investment

MAS Grants BondEvalue Recognised Market Operator Licence

16/10/2020

BondEvalue operates BondbloX Bond Exchange, a blockchain-based exchange that allows for bonds to be traded in USD 1,000 lots.

Anti-Money Laundering

G7 Calls for Global Adoption of FATF Standards on VASPs

16/10/2020

Effective implementation of the FATF Standards, including the ‘travel rule’, is needed to combat a recent surge in ransomware attacks.

Payments & Settlements

PBOC to Establish Consumer Protection Fund for Payments

15/10/2020

The new regulations are aimed at establishing a long-term mechanism for resolving and disposing of risks at non-bank payment institutions, the PBOC said.