Enforcement

Malaysia: Former Trust Consultant Jailed for Securities Fraud

13/06/2020

The former consultant promised investors guaranteed returns but used the monies they paid for share trading in her personal account.

Market Infrastructure

New Zealand’s New Conduct Regime Not Adequately Developed

13/06/2020

The bill to introduce a new conduct regime in New Zealand is not yet adequately developed, say Consumer New Zealand, the NZBA, and the Financial Services Council.

Securities / Derivatives

AMAC Issues Guidance on Private Fund Performance Remuneration

13/06/2020

The guidelines articulate four basic principles private fund managers are required to follow in designing and implementing performance remuneration mechanisms.

Market Infrastructure

NAB to Lift Industry Standards with Bank-Wide Education Programme

12/06/2020

The programme, to be launched in partnership with FINSIA, will be rolled out for all of NAB’s Australia and New Zealand bankers and support staff.

Fintech / Regtech

Taiwan Fintechs to Gain Access to Canada’s Securities Sandbox

12/06/2020

The CSA sandbox allows firms to obtain exemptive relief from securities law requirements to test new products and services in the Canadian market on a time-limited basis.

Enforcement

Shanghai Police Detain Anxin Trust Controller Over Illegal Loans

12/06/2020

Police have detained Anxin Trust’s biggest shareholder for lending assets under management in trust products to friends and other associates.

Fintech / Regtech

Korea: Unauthorised Toss Payments Prompt Wider Review of Fintechs

12/06/2020

The FSS is considering conducting reviews of some 40 fintech companies after eight unauthorised transactions were detected on Viva Republica’s payments platform Toss.

Market Infrastructure

WFE Issues Guidance on CCP Handling of Non-default Losses

11/06/2020

At the ten largest CCPs, no CCP has ever allocated a loss to a clearing member related to custody or collateral investment through its rulebook, the guidance makes clear.

Securities / Derivatives

HKEX to Automate Large Open Position Reporting Process

11/06/2020

Starting in September, participants will be able to fully automate their current LOP reporting process, using the Secure File Transfer Protocol (SFTP) facility.