AML / KYC

Huawei Alleges HSBC Continued Evading Sanctions After 2012 DPA

20/02/2020

HSBC continued to evade Iran sanctions after its 2012 deferred prosecution agreement with the US Department of Justice, Huawei lawyers say in a letter to a New York District Court.

Enforcement

Taiwan FSC Fines Cathay Life for Lax Sales Controls

20/02/2020

Cathay Life failed to improve its internal controls for sales agents and its insurance underwriting mechanism despite complaints from 14 customers.

Enforcement

Lime Asset, Shinhan Investment Raided in Hedge Fund Misselling Probe

20/02/2020

Investigators were dispatched to both firms to secure computer drives and documents linked to alleged misselling and fraud at both firms.

Fintech / Regtech

Thailand, Cambodia Launch Cross-Border QR Payments

20/02/2020

New payments connectivity between the two countries is expected to promote trade, tourism, financial inclusion, and the usage of local currencies in cross-border transactions.

Enforcement

HK Court Upholds SFC Power to Access Digital Devices in Investigations

19/02/2020

The SFC is empowered to access to email accounts and personal digital devices which may contain information relevant to its investigations, the court said.

Fintech / Regtech

FSC Korea Outlines Ten Policy Measures Targeting Innovation

19/02/2020

The policy tasks include measures to direct capital to SMEs and innovative startups, and promote inclusive finance, fintech and open banking.

Big Picture

OECD Warns of Global Debt Pileup from Corporate Bonds

19/02/2020

High leverage in the corporate sector make it essential to improve the ability of equity markets to strengthen corporate balance sheets and support long-term investments.

Market Infrastructure

New Zealand Takes Step Towards New Financial Conduct Regime

19/02/2020

New legislation to establish an effective fair conduct regime for the financial sector has passed its first reading in New Zealand.

Securities / Derivatives

SEBI Forms Municipal Bonds Development Committee

18/02/2020

The committee will advise on regulation to develop the primary and secondary markets for municipal bonds.