AML / KYC

Investors Accuse BSEC Chairman of Embezzlement, Money Laundering

24/08/2019

The chairman of Bangladesh’s securities regulator is alleged to have approved IPOs for companies that falsified their financial statements to show higher profitability.

Market Infrastructure

SFC Highlights Liquidity Risk Management Deficiencies at Funds

24/08/2019

The SFC asks fund managers to review their current policies, procedures, systems and processes and take immediate action to rectify any inadequacies or deficiencies.

Securities / Derivatives

SEBI Eases Requirements for FPI Registration

23/08/2019

SEBI has consolidated 57 circulars and 183 FAQs issued over the years into a single circular for FPIs, easing several requirements in the process.

ANZ New Zealand to Review Internal Financial Reporting Processes

23/08/2019

The FMA has determined that ANZ should have disclosed the sale of a luxury property to its ex-CEO’s wife at below-market prices as a related party transaction.

Securities / Derivatives

ASIC Proposes Ban on Binary Options, Restrictions on CFDs

23/08/2019

In 2018, licensed binary options and CFD issuers made about $2bn from these products, largely attributed to retail client losses, fees and costs.

SEBI to Force Borrowers to Disclose Defaults to CRAs

23/08/2019

The move follows a spate of defaults in India where credit rating agencies were blamed for being unable to flag potential credit risks.

Enforcement

SEBI Targets Insider Trading with Informant Reward Mechanism

22/08/2019

Whistleblowers will be eligible for rewards up to $139,000 and, if culpable themselves, for amnesty or settlement with SEBI.

Securities / Derivatives

SZSE ChiNext Board to Adopt Registration Based IPO System

22/08/2019

Shenzhen’s ChiNext board has begun work to prepare for adoption of a registration-based IPO system, currently in use at Shanghai’s new tech board.

ASIC to Monitor Progress to End Conflicted Remuneration

22/08/2019

ASIC will investigate the steps licensed entities are taking to end grandfathered conflicted remuneration for financial advisers and whether the benefits are passed on to clients.