Korea FSS to Inspect Shinhan Governance This Month

08/10/2019

The FSS is reportedly looking into Shinhan’s governance structure ahead of the end of its current chairman’s term in March 2020.

Enforcement

Two Singaporeans Jailed for Spoofing Derivatives Market

08/10/2019

Two former directors of proprietary trading company Joerik Financial were jailed for fraud and dishonest conduct in relation to the trading of futures contracts.

Enforcement

Korean Court Orders CoinOne to Compensate Hacked Client

07/10/2019

South Korean crypto exchange CoinOne has been ordered to repay a client after a hacker who stole his login information was able to withdraw 25mn won over the withdrawal limit.

Fintech / Regtech

Japan Brokers Form New Body to Develop Rules for STOs

07/10/2019

The new association was formed by securities firms SBI, Nomura, Daiwa, Kabu.com, Monex and Rakuten and will seek FSA approval for status as a self-regulatory organisation.

Enforcement

China Antigraft Agency Concludes Probe into Former CSRC Chief

07/10/2019

Liu Shiyu has been removed from his government post and had his illegal gains confiscated, but he will remain a member of the CCP due to his cooperation in the probe.

ABA Backs Proposal for Bank-Funded Financial Counselling

07/10/2019

A review of Australia’s financial counselling sector has recommended that the big four banks fund half of the initial contributions immediately needed to expand delivery of such services.

Enforcement

SFC Fines SEAVI Advent Ocean Private Equity HK$1mn

07/10/2019

The SFC has reprimanded and fined SEAVI Advent Ocean Private Equity for allowing unlicensed individuals to perform regulated functions, in breach of the Code of Conduct.

Securities / Derivatives

ASX Consults on Changes to Treasury Bond Futures Roll

07/10/2019

A new consultation paper outlines four options for changes to the roll structure and order management functionality for the 3 and 10 Year Treasury Bond Futures contracts.

Capital / Liquidity

Philippines Amends Framework for Identifying D-SIBs

04/10/2019

The BSP will give more importance to a bank’s size and interconnectedness when deciding which lenders should be classified as D-SIBs.