Securities / Derivatives

SEBI Prescribes New Risk Management Norms for Liquid Funds

24/09/2019

From 1 April 2020, liquid and overnight funds must hold at least 20% of their net assets in liquid assets such as cash, government securities and treasury bills.

Enforcement

US SEC Settles Charges Against Nissan, Former CEO

24/09/2019

As settlement for underreporting CEO compensation, Nissan agreed to pay $15mn, while ex-CEO Carlos Ghosn will pay $1mn and get a 10-year officer and director bar.

AML / KYC

AUSTRAC Orders AML/CTF Audit at PayPal Australia

24/09/2019

AUSTRAC’s order follows a self-reported issue PayPal detected in its reporting system for international fund transfer instructions, which it said it was working to remediate.

AML / KYC

Taiwan Seeks Significantly Higher Penalties for Tax Evasion

24/09/2019

Reports indicate there is considerable support to raise the maximum fine for tax evasion from NT$60,000 to NT$100mn.

Big Picture

DTCC Calls on Industry to Prioritise Business Resilience Efforts

24/09/2019

Firms must establish resilience as a business-owned strategic initiative, and be willing to prioritise business resilience over efficiency in some cases, says a new DTCC whitepaper.

Securities / Derivatives

Civil Unrest Forces Brokers to Exit Hong Kong Market

24/09/2019

Since the Hong Kong protests began in June, ten brokerage firms have reportedly exited the market amid lower turnover and shrinking commission revenues.

Market Infrastructure

Thailand, Clearstream Go Live with Cross-Border Funds Link

24/09/2019

The new link allows international investors to access Thailand’s funds market, and Thai investors to access more than 190,000 funds on Clearstream’s platform.

Market Infrastructure

HKEX Enlists Investment Banks to Help with LSEG Bid

24/09/2019

HKEX has reportedly brought in UBS, Credit Suisse and HSBC to help it engage with LSEG shareholders and provide advice on its recently-rejected bid to takeover the London bourse.

Securities / Derivatives

SFC Imposes Lifetime Ban on Former BoCom Banker

24/09/2019

The ban follows an August 2018 conviction, where the former banker was found guilty of soliciting illegal commission payments from a client for stock trading profits.