Trading & Investment

OCBC Issues Singapore’s First SORA-based Loan Facility

16/06/2020

The S$150mn three-year corporate loan from OCBC to CapitaLand is hailed as a milestone in the industry’s transition roadmap towards SORA adoption.

Market Abuse

Former CSRC Official Jailed for 12 Years for Bribery, Insider Trading

16/06/2020

The case against the CSRC’s former Hunan bureau head was said to be linked to a probe into CSRC former vice chairman Yao Gang, who was jailed for 18 years in 2018.

Conduct, Culture & Accountability

ASIC Directs Investment Funds to Correct False Advertising

16/06/2020

Investment funds were falsely being promoted as having little or no risk of capital loss, where higher returns were highlighted without adequate disclosures of risk.

Payments & Settlements

MUFG Bank Secures China Interbank Bond Market Licence

16/06/2020

MUFG Bank’s wholly-owned China subsidiary has become the first Japanese bank – and the eight foreign bank overall – to win a Bond Settlement Agent licence.

Operational Risk

MAS Issues Directions on Safe Re-opening of Financial Sector

16/06/2020

Although access to in-person services will expand, MAS “strongly encourages” FIs and their customers to continue using digital financial services and e-payments as much as possible.

Structural Regulation

CSRC to Ease Rules for Major Shareholders of Securities Firms

16/06/2020

The profitability, net assets and experience requirements will be relaxed for major shareholders of securities companies.

Anti-Money Laundering

PBOC Promises Crackdown on Illegal Overseas Gambling

16/06/2020

Payments industry stakeholders are directed to strengthen customer identification, report suspicious transactions, and improve surveillance.

Conduct, Culture & Accountability

ASIC Imposes Licence Conditions on Societe Generale Securities

16/06/2020

Societe Generale Securities Australia self-reported to ASIC that it deposited client money into unauthorised bank accounts.

Clearing & Post-Trade

HKEX’s OTC Clear Introduces Client Clearing Services

15/06/2020

Market participants who are not themselves clearing members of OTC Clear can gain access to the benefits of central clearing through existing clearing members.