Fintech / Regtech

KRX to Tighten Rules on Algorithmic and AI-based Trading

11/12/2019

Algorithmic trading is not illegal in Korea, but authorities have long been concerned that the practice may cause market confusion and disadvantage retail investors.

Enforcement

Samsung Execs Jailed for Burying Evidence in Accounting Probe

11/12/2019

Employees were ordered to destroy and conceal internal documents, including by burying nearly two dozen computers and notebooks as well as computer servers beneath factory floors.

Market Infrastructure

RBI to Make NEFT System Available 24×7

11/12/2019

From 16 December, the NEFT system will be available on a 24/7 basis, including on holidays with batch settlement every half hour.

Fintech / Regtech

Bank of Papua New Guinea Launches Regulatory Sandbox

11/12/2019

Local and foreign financial institutions and fintech firms are welcome to apply to test new products and services that could enhance financial inclusion and the provision of financial services.

Malaysia’s RHB Bank to Shutter Hong Kong Operations

11/12/2019

The move is said to be the result of an “increasingly challenging” operating and broking environment, largely attributed to a slow economy and ongoing civil unrest.

Enforcement

SEBI Bans Fidelity Trader and Family Members for Front-Running

10/12/2019

The trader used non-public information to front-run impending trades of Fidelity Group entities with his mother and sister’s trading accounts from Hong Kong.

Securities / Derivatives

RBI Relaxes Restriction on Foreign Exchange Hedging

10/12/2019

Residents and non-residents will be allowed to undertake OTC currency derivative transactions up to $10mn without having to evidence underlying exposure.

Securities / Derivatives

SFC, HKMA to Launch New Survey to Assess Product Selling Risks

10/12/2019

The survey will help the SFC and HKMA identify risks associated with the selling activities of intermediaries and coordinate their responses to address areas of common concern.

Big Picture

Fund Managers to Remain in Regulatory Spotlight in 2020: Moody’s

10/12/2019

Asset managers will remain in the regulatory spotlight as authorities actively work to reduce conflicts of interest in financial advice and elevate supervision of fund liquidity management.