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.

AML / KYC

S. Korea Uses AI, Big Data Analytics to Detect Tax Evasion

07/07/2020

A new AI-based big data analytics system will be used by the National Tax Service to detect cases of tax evasion using borrowed-name accounts.

Fintech / Regtech

China Progresses Development of Data Security Law

07/07/2020

The draft law says the government will protect the rights of individuals and organisations over the use of their data.

Securities / Derivatives

China Issues Final Rules on Handling Corporate Bond Defaults

07/07/2020

The final rules establish trustee managers, bondholder meetings and intermediaries as investor safeguards in the disposal of defaulted corporate bonds.

CBIRC to Grade Banks on SME Credit Provisioning

07/07/2020

The first evaluation of how effectively banks are providing financial services to SMEs will cover 2019, and be completed by 31 October 2020.

Capital / Liquidity

BOE Sets Deadline for UK Firms to Embed Climate Risk

07/07/2020

By end-2021, financial firms will have to be able to demonstrate that their approaches to managing climate-related financial risk have been implemented and embedded in their organisations.