Securities / Derivatives

SGX RegCo to Scrap Minimum Trading Price Rule from 1 June

11/05/2020

The MTP rule is described as a “blunt tool” for addressing risk of market manipulation, compared to more effective tools that target such manipulation directly.

Securities / Derivatives

FSC Korea Mulls Issuance Limits for Equity-linked Securities

11/05/2020

Driven by demand from retail investors for higher yields, some securities firms have been selling ELS products beyond their equity capital.

Enforcement

Hong Kong: Investors Seek Compensation for Failed IPOs – Report

11/05/2020

The SFC has issued almost HK$1bn in penalties for IPO sponsor failures over 20 years. These proceeds have gone to the government, not investors.

Fintech / Regtech

ACCC, OAIC Outline Enforcement Approach to Data Rights Breaches

11/05/2020

A ‘strategic risk-based approach’ to compliance and enforcement has been adopted, focusing on building consumer confidence in the security and integrity of the Consumer Data Right system.

Big Picture

Regulatory Initiatives to Address Culture & Conduct Risk in Banking

11/05/2020

In its latest annual Compendium, Starling draws on survey findings and commentary from regulators to identify ten culture and conduct trends in the banking sector.

AML / KYC

European Commission Sets Out Action Plan to Root Out AML Loopholes

10/05/2020

A single EU rulebook will minimise interpretation and implementation discrepancies across member states, and an EU-level AML/CFT body will address supervisory gaps.

Market Infrastructure

ESMA Approves Four Trade Repositories for SFTR Reporting

10/05/2020

DTCC, UnaVista, KDPW and REGIS-TR will have their TR registrations for derivatives contracts under EMIR extended to include securities financing transactions under SFTR.

Korea: KDB Can Intervene in Bailed-out Companies to Prevent Value Loss

10/05/2020

Under the latest revisions, Korea Development Bank may exercise its voting rights in bailed-out companies for decisions that may impact shareholder value or when restructuring is required.

AML / KYC

Singapore Police Raid ZenRock Following HSBC Allegations of Fraud

10/05/2020

Singapore’s High Court has reportedly appointed KPMG executives as interim judicial managers to oversee a transition to new management at ZenRock Commodities, an oil trading firm.