Enforcement

SFC Bans Former Deutsche Securities RO for Life

18/11/2019

For ban follows a February 2018 conviction, where the former responsible officer was sentenced to 45 months’ imprisonment and ordered to pay HK$6.4mn to Deutsche Bank AG in restitution.

Enforcement

UBS Fined in Singapore for Pricing Deception by Advisers

18/11/2019

The MAS penalty follows similar action taken against UBS by the Hong Kong SFC to penalise the bank and demand compensation for clients that were overcharged over a ten-year period.

Capital / Liquidity

FSB Prioritises CCP Resilience, Resolvability in Policy Work

15/11/2019

The FSB says it plans to consult on new guidance on evaluating the adequacy of a CCP’s resolution resources, and challenges still remain on aspects of G-SIB resolvability.

Capital / Liquidity

BCBS Consults on Pillar 3 Disclosure for Market Risk, Sovereign Exposures

15/11/2019

The first consultation sets out adjustments to Pillar 3 templates to reflect the revised market risk framework; the second consults on voluntary disclosure templates for banks’ sovereign exposures.

Market Infrastructure

New Supervisory Framework for Internationally Active Insurers

15/11/2019

The global framework comprises an enhanced set of supervisory policy measures and powers of intervention, along with an annual IAIS global monitoring exercise.

Crypto / Digital Assets

HSBC, SGX, Temasek Jointly Explore DLT for Singapore Bond Markets

15/11/2019

The trial will make use of tokenised securities and smart contracts over a permissioned ledger to streamline bond issuance and servicing workflows.

AML / KYC

MAS to ‘Take Another Crack’ at KYC Utility Project

15/11/2019

The KYC Utility project was shelved last year after the setup costs were deemed to be too high. This time, the MAS will look at “less costly” technology architecture.

Market Infrastructure

ASIC Offers Guidance to Help Companies Establish Whistleblower Policies

14/11/2019

ASIC is offering guidance to help companies and implement whistleblower policies. It will be a legal requirement to have a policy in place from 1 January.

Securities / Derivatives

Malaysia Central Bank Revises Repo Rules

14/11/2019

New rules increase repo transaction tenor to five years and expand the list of eligible securities allowed in repo transactions.