ESG / Sustainability

Nasdaq Launches Service to Track ESG Impact of Investments

18/05/2020

‘ESG Footprint’ helps investors track a wide range of sustainability criteria, including carbon footprint, board diversity and companies flagged for human rights issues.

AML / KYC

DPRK Cyber Crime Group Increasingly Active in S Korea

18/05/2020

The primary targets of the cyberattacks are cryptocurrency traders, exchanges and others who work in the field, according to cyber security firm ESTsecurity.

Market Infrastructure

BOK Asks FIs to Get Ready for LIBOR Roadmap Release

18/05/2020

A subgroup of the Benchmark Rate Reform Task Force is in the process of drafting a LIBOR transition roadmap to ensure that Korean FIs can use alternative rates starting from 2022.

Crypto / Digital Assets

MAS Sets Out Regulatory Approach for Payment Token Derivatives

18/05/2020

MAS will regulate payment token derivatives offered by approved exchanges – i.e. SGX Derivatives, APEX, Ice Futures – but will not regulate such products offered by other entities.

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.