Securities / Derivatives

Record Korea Budget to Support Corporate Bond-buying

08/07/2020

The supplementary budget will cover a 1tr won capital injection for an SPV that will purchase low-rated corporate bonds and commercial paper.

Enforcement

Ex-ICBC Shanghai Boss Pleads Guilty to Bribery

08/07/2020

Prosecutors said Gu Guoming took advantage of his position to help others obtain loans and project contracts, and illegally received bribes worth over 136 million yuan.

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.