Enforcement

Japan: Nomura Employee Leaks Client Information to Securities Firm

14/09/2020

Nomura has apologised for the incident and pledged to strengthen its management of customer information. It will also consider taking legal action against the offending staffer.

Capital / Liquidity

HKMA Published Revised SPM on Non-Cleared OTC Derivatives

14/09/2020

Banks currently in scope of the margin requirements and risk mitigation standards have until 1 September 2021 to comply wth the revised supervisory policy manual.

Enforcement

ASIC Power to Obtain Documents Upheld in Federal Court

14/09/2020

Two separate rulings against Maxi EFX and IOOF-owned RI Advice clarify obligations for those who receive ASIC notices requiring them to produce documents.

RBI Sets Out Guidelines on Bank Compliance Function

13/09/2020

The guidelines are aimed at ensuring a uniform approach with regard to compliance and risk management culture across the banking industry.

Enforcement

Federal Court Imposes A$57.5m Penalty Against NAB Units

13/09/2020

NULIS Nominees and MLC Nominees admitted to misleading or deceptive conduct, false or misleading representations, and breaches of the ASIC Act and Corporations Act.

Market Infrastructure

Standard-setters Kick Off Initiative to Harmonise Sustainability Reporting

13/09/2020

The IFRS Foundation is proposed as the body that is “optimally positioned” to lead and coordinate the creation of a new sustainability standards board.

Market Infrastructure

Changes to Hong Kong OFC Regime Take Effect Immediately

13/09/2020

Private OFCs are no longer subject to investment restrictions and securities brokers are now eligible to be OFC custodians, among other changes.

Enforcement

Shenzhen’s ChiNext Board Under Scanner for Corruption Risk

13/09/2020

China’s anti-graft watchdog is looking into whether wild swings may have been caused by insider trading or manipulation involving exchange officials.

AML / KYC

OFAC Settles Deutsche Bank Trust Sanctions Violations

13/09/2020

The settlement covers a large payment linked to a designated oil company and 61 payments made to a sanctioned bank in 2015.