Cloud & Infrastructure

ASIC Publishes Findings from 2019 Regtech Initiatives

25/12/2019

Participants said the exponential growth in data volume means the financial services industry must consider implementing regtech as an ‘imperative’ to undertake risk management and compliance functions.

PEPs & Sanctions

ISDA Calls For Guidance on Handling of Derivatives Impacted by Sanctions

25/12/2019

ISDA proposes 8 principles sanctions authorities can consider to ensure safe operation of markets, and minimise derivatives market disruption and economic consequences for non-sanctioned entities.

Conduct, Culture & Accountability

ASIC, APRA Issue Updates on Governance, Accountability

25/12/2019

The updates are a response to the Royal Commission, which called on both regulators to reform their internal accountability frameworks to reflect requirements prescribed by BEAR.

Clearing & Post-Trade

HKEX to Shorten IPO Settlement to Single Day

25/12/2019

HKEX hopes to shorten Hong Kong’s five-day IPO settlement process to just one day by end-2020.

KYC & CDD

FSC Korea Enables Online Account Opening for Foreigners

24/12/2019

The FSC will allow non-face-to-face account opening by foreigners residing in Korea, and by legal representatives of corporations.

Conduct, Culture & Accountability

SFC Fines Adamas Asset Management for Disclosure Failings

24/12/2019

The asset manager was fined HK$2.5mn for filing 339 incorrect or late notifiable interest disclosures to the SEHK and eight listed companies.

Payments & Settlements

PayPal Obtains Online Payments Licence in China

24/12/2019

PayPal’s acquisition of a majority stake in Gopay gives it access to licences that allow it to offer online, mobile and cross-border renminbi payments.

Market Abuse

CFTC Charges HSBC Exec with Manipulation, Fraud

24/12/2019

The former head of HSBC’s North American interest rates business allegedly manipulated prices for five-year basis swaps used to price a bond issuance and a related swap.

Reporting & Disclosures

Japan Solicits Feedback on Revised Stewardship Code

24/12/2019

The changes add expectations that sustainability issues will be considered in the investment process, and introduce expectations for service providers.