Securities / Derivatives

FMA, NZX Announce Support Measures for Listed Companies

19/03/2020

The measures include higher capital raising capacity for issuers, a two month extension for financial reporting, and delays for some regulatory work.

Enforcement

S. Korea Cabinet Approves Financial Consumer Protection Bill

19/03/2020

Under the legislation, six sales regulations will be applied to all financial products, where sellers will be subject to stricter penalties and possible sales bans for violations.

Enforcement

Australia: SocGen Securities Unit Charged for Client Money Rule Breaches

19/03/2020

Societe Generale Securities Australia self-reported three matters over 2017 and 2018, and has completed all remediation actions in relation to its operational set-up.

Securities / Derivatives

Malaysia Allows Listed Companies to Defer Quarterly, Annual Reports

19/03/2020

Listed companies and REITs managers with a financial year-end of 31 December 2019 can also defer their AGMs.

Securities / Derivatives

HKEX to Introduce Master SPSA Service for Fund Managers

18/03/2020

The new service allows pre-trade checking of China A shares for northbound trading at the fund manager level rather than at the individual fund level.

Securities / Derivatives

SET Revises Circuit Breaker Mechanism to Curb Volatility

18/03/2020

The circuit breaker will be triggered in three stages instead of two. The ceiling and floor limits for securities and derivatives are also revised.

Securities / Derivatives

S. Korea Revises FX Derivatives Rule to Ease USD Funding Stress

18/03/2020

The limits on banks’ foreign currency forward positions will be raised to guard against a US dollar funding shortage amid a mass exodus of foreign capital.

Enforcement

AMP Units Pay ASIC Penalties for Trade Reporting Failures

18/03/2020

The AMP entities failed to report information about over 1,000 derivatives transactions and to correctly report collateral information about over 19,000 transactions over several years.

AML / KYC

S. Korea Approves Revisions to Legal Framework for Crypto

18/03/2020

The revision bill was introduced last November, and passed on 5 March. The government has now approved the revision act at a cabinet meeting on 17 March.