Editors

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    Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com

    Articles by Editors

    AML / KYC

    HK Police Arrest Three in HK$54m Money Laundering Case – Report

    17/05/2020

    Money stolen through telephone and online scams was laundered through at least three layers of bank accounts in Hong Kong within hours before being funnelled out of the city.

    Fintech / Regtech

    Temasek Joins Libra Association as First Asia Pacific Backer

    17/05/2020

    Temasek’s participation in the Libra Association will allow it to contribute toward a regulated global network for cost effective retail payments.

    Enforcement

    CSRC Bans Six Executives for Kangmei Pharma Accounting Fraud

    17/05/2020

    The company and 21 of its employees have also been fined for using false documents and transaction records to inflate cash positions.

    Securities / Derivatives

    Hong Kong Lowers Transaction Costs for ETF Market Makers

    16/05/2020

    An amendment waives stamp duties on primary market stock transfers involving ETF market makers’ activities to create and redeem ETF units.

    Australian Makes Tax Relief for Merging Super Funds Permanent

    16/05/2020

    Financial Services Council chief Sally Loane welcomed the move, but expressed disappointment with changes that may create another tax compliance burden for managed funds.

    Securities / Derivatives

    SEBI Relaxes Public Shareholding Requirement for Listed Entities

    16/05/2020

    The move will mean promoters with more than 75% shareholding in a listed company will not have to divest their holdings while the current challenging environment persists.

    AML / KYC

    Westpac Files Defence in Federal Court on its AML/CTF Failures

    16/05/2020

    While Westpac made a number of admissions regarding AUSTRAC’s claims, the bank said the majority of its international money transfers were correctly reported.

    Enforcement

    SFC Declines to Take Action Against HSBC for No-dividend Decision

    15/05/2020

    Some investors in HSBC alleged the bank failed to safeguard their interests. Others questioned whether the bank’s discussions with the Bank of England were disclosed in a timely manner.

    Market Infrastructure

    CCP Margin Models May Need Fine-tuning: BIS Paper

    15/05/2020

    Some CCP margin models underestimate market volatility because they rely on a short period of historical price movements from tranquil times, the paper says.

    Uncategorised

    ISDA Publishes Final Report on Pre-cessation Fallbacks for LIBOR

    15/05/2020

    ISDA expects to publish amendments to the 2006 ISDA Definitions to incorporate the fallbacks for new trades in July, along with a protocol to allow participants to incorporate the revisions into legacy trades.

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