Securities / Derivatives

SFC Orders Freezing of More Assets Linked to Manipulation Case

26/06/2019

The SFC has ordered more brokers to stop dealing with and processing assets linked to suspected market manipulation of Ding Yi Feng shares.

Market Infrastructure

APRA Extends Change of Ownership Powers to Super Sector

26/06/2019

From 5 July, any party seeking to acquire more than a 15% stake in a superannuation licensee will be subject to must apply to APRA first for approval.

AML / KYC

Goldman’s Compensation Offer for 1MDB Losses ‘Not Adequate’

25/06/2019

Prime Minister Mahathir Mohamad says Goldman’s $240mn offer to compensate Malaysia for the bank’s role in the 1MDB scandal is not adequate.

Enforcement

RBI Launches Online Platform for Financial Complaints

25/06/2019

The new Complaint Management System allows customers of regulated financial entities in India to lodge complaints against those entities online.

Market Infrastructure

New Zealand Banks Commit to Ending Sales-Linked Incentives

25/06/2019

FMA chief executive Rob Everett and RBNZ governor Adrian Orr have confirmed that all banks have committed to removing sales incentives for frontline staff and their managers.

Fintech / Regtech

Regulatory Coordination Needed to Mitigate BigTech Risks: BIS

25/06/2019

An element of risk is BigTechs’ access to data from existing social media, search engines and ecommerce platforms, which raises competition and data privacy issues.

Capital / Liquidity

HKMA Rules on Bank Exposure Limits to Take Effect From 1 July

25/06/2019

Under the rules, authorised institutions are subject to a statutory limit of 25% of capital on financial exposure to any one person or group of related persons.

Market Infrastructure

Bangladesh: Three Private Banks Hit by Cyber Attacks

25/06/2019

Hackers stole $3m from Dutch-Bangla Bank using cloned credit cards and cash machines in Cyprus, Russia and Ukraine.

Australia: New Banking Code of Practice Set to Take Effect

25/06/2019

The ABA’s new Banking Code of Practice takes effect from 1 July. Lenders have welcomed the changes, but the FBAA says brokers shouldn’t sign the financial abuse declaration form.