Market Abuse

FSS Korea Probes Fraud Involving Small-cap Stocks

14/01/2020

A group of investors is suspected of taking control of small firms, only to then release news designed to inflate share prices or raise more capital to enrich themselves.

Fraud, Scams & Cybercrime

CSRC Imposes Lifetime Bans on Former Fuxing Group Executives

14/01/2020

Fuxing’s former chairman and ex-president received lifetime bans for running a six-year scheme to defraud investors of $5.3bn. Five others received market bans.

Custody & Infrastructure

Legal Certainty Needed to Advance DLT Adoption in Derivatives

14/01/2020

ISDA, Clifford Chance, R3 and the Singapore Academy of Law have published a new whitepaper analysing the legal issues relating to the use of smart derivatives contracts on a distributed ledger.

Cloud & Infrastructure

Thailand Developing Foundation for Digital Banking – Report

14/01/2020

The efforts are aimed at developing data from non-financial sources, an electronic identification system, and a suitable regulatory framework.

KYC & CDD

Bangladesh Introduces e-KYC for All Financial Services Firms

13/01/2020

All financial institutions regulated by Bangladesh Bank are expected to introduce e-KYC in compliance with the new guideline by December 2020.

Tokenisation

QME to Leverage Blockchain to Standardise Warehouse Receipts

13/01/2020

HKEX’s Qianhai Mercantile Exchange will use blockchain tech from Ant Financial to provide verifiable warehouse receipts which will help commodities businesses to obtain financing.

Clearing & Post-Trade

Indian Stock Exchanges Introduce Cross Margining Facilities

13/01/2020

NSE launched the cross-margining facility from Friday (10 January), whereas BSE India will introduce it from Wednesday (15 January).

Supervision & Enforcement

Taiwan FSC Penalises Taichung Commercial Bank for Lax Controls

13/01/2020

The bank and its insurance unit were fined for lax controls on entertainment spending and for awarding bonuses to sales staff who hadn’t sold any products, among other failures.

Structural Regulation

SEBI Issues New Requirements for Gift City Investment Advisers

13/01/2020

Firms providing investment advisory services in Gift City are required to have a net worth of at least $1.5mn.