Market Infrastructure

FSB Seeks Industry Input on Cyber Incident Response and Recovery

15/07/2019

The survey will inform the FSB’s development of a toolkit of effective practices for responding to and recovering from cyber incidents.

Market Infrastructure

SGX Launches New Trading Engine from Nasdaq

15/07/2019

The upgrade standardises and unifies SGX’s operations, messaging and data infrastructure, enabling greater flexibility, speed and cost-efficiency when launching new products and services.

Enforcement

Korea Exchange Fined for Making False Statement to CFTC

14/07/2019

The CFTC found that KRX failed to disclose that it was not in compliance with a requirement to use daily stress tests to evaluate the sufficiency of its financial resources.

AML / KYC

US Authorities Probe Deutsche Bank Dealings With 1MDB

13/07/2019

The DOJ probe is looking into whether Deutsche Bank failed to comply with US AML or foreign bribery laws in the course of raising $1.2bn for 1MDB in 2014.

Fintech / Regtech

Singapore Marks Launch of First Private Exchange with First Listing

13/07/2019

Backed by SGX and licensed by MAS, 1exchange takes private companies’ shares and puts them into an SPV to back digital tokens that can then be listed and traded by investors.

Securities / Derivatives

China, UK Seek to Establish Bond Market Connectivity – Report

12/07/2019

Following the success of the Hong Kong Bond Connect and Shanghai-London Stock Connect, China and the UK are exploring the feasibility of a bond connect programme.

Enforcement

ANZ, Citi, Deutsche to Defend Against Criminal Cartel Charges in September

12/07/2019

The government accuses the banks of forming a criminal cartel to either “directly or indirectly” restrict the supply of ANZ shares or maintain the price of ANZ shares.

Enforcement

ASIC Review Finds Widespread Mis-selling of Consumer Credit Insurance

12/07/2019

ASIC plans to take “significant enforcement action” against 11 lenders that inappropriately sold consumer credit insurance, and force remediation of over A$100m.

AML / KYC

OCBC to Speed Up Police Investigations with Automated Data Retrieval

11/07/2019

OCBC Bank and the Singapore Police Force are collaborating on a new project to reduce the amount of time it takes for investigators to access banking information to just 1-2 days.