Fintech / Regtech

UPDATED – K-Bank Financing Plan Halted Amid Antitrust Probe

25/04/2019

KT Corporation was planning to up its stake in the internet-only bank to 34%, but the FSC put its review process on hold amid an FTC antitrust probe.

AML / KYC

Japan FSA Raids Two Crypto Exchanges to Check Compliance

25/04/2019

The FSA reportedly wants to ensure appropriate measures have been implemented for customer protection and legal compliance after recent management changes.

Enforcement

Financial Planners Worry About AFCA’s Extended Powers

25/04/2019

The FPA says advisers are worried old cases will be judged against newer, stricter advice standards and they may not be covered by professional indemnity insurance.

Securities / Derivatives

SEBI Enables Greater Retail Access to REITs, InvITs

24/04/2019

The regulator has reduced the minimum subscription size and introduced defined trading lots for real estate and infrastructure investment trusts in India.

Securities / Derivatives

MPF Needs Greater Access to China Markets – HKIFA

24/04/2019

Hong Kong fund managers are asking for Shanghai and Shenzhen to be included in the list of overseas markets approved for MPF investment.

AML / KYC

SFC Imposes 10-Month Ban on Former Guosen Exec

24/04/2019

The 10-month ban on Su Xiqiang, former head of Guosen’s retail brokerage, was a result of improper handling of third-party fund deposits, and a lack of AML controls.

Enforcement

Goldman, Gao Hua Securities Agree to $22.3m CSRC Settlement

24/04/2019

Goldman Sachs and its Chinese partner Gao Hua Securities have agreed to an administrative settlement of 150 million yuan for internal control breaches.

Market Infrastructure

Technology to ‘Transform’ a Third of Singapore Finance Jobs – Study

24/04/2019

The main effect of technology will be to “transform” jobs in the financial industry, rather than create or destroy them, says an EY study commissioned by MAS and IBF.

Market Infrastructure

China, Japan Sign Agreement to Facilitate ETF Cross-Listings

23/04/2019

The Shanghai Stock Exchange and Japan Exchange Group have signed an ETF Connectivity Agreement to streamline investment in the each other’s markets.