Conduct, Culture & Accountability

UBS Identifies ‘Inappropriate Spreads’ Charged to HK, SG Clients

24/10/2019

UBS may have charged some wealth management clients booked in Hong Kong and Singapore ‘inappropriate spreads’ on debt securities transactions between 2008 and 2015.

Tokenisation

Thailand SEC Approves First ICO Portal

23/10/2019

Under Thailand’s regulatory framework, ‘ICO portals’ help screen ICOs, conduct due diligence, prove smart contract source codes and verify KYC processes before they are released to the market.

Trading & Investment

SEBI Allows Stock Exchange Listings of Commercial Paper

23/10/2019

SEBI says issuers have shown an interest in listing their commercial paper on stock exchanges to capture broader investor participation.

Trading & Investment

JPM, SocGen Earned $6.8mn on Money-Losing DLFs Sold in Korea

23/10/2019

FSS data shows that JP Morgan Chase and Société Générale earned nearly $6.8mn from the high-risk derivatives products sold through KEB Hana and Woori Bank.

Supervision & Enforcement

China Criminalises Loans with Annual Interest Over 36pc

23/10/2019

All agency fees, consulting fees, management fees and default penalties will be included in the interest rate calculation, effectively lowering the threshold.

Anti-Bribery & Corruption

More Shanghai Bank Executives Assisting in Corruption Probes

23/10/2019

The current and former Shanghai chiefs of Ping An Bank and the Suzhou branch head of China Guangfa Bank are assisting in an anti-graft probe linked to former CSRC chairman Liu Shiyu.

Anti-Money Laundering

FATF Removes Sri Lanka from ‘Grey List’; Pakistan to Remain

23/10/2019

Sri Lanka has made “significant progress” to address strategic AML/CFT deficiencies; Pakistan has only largely addressed 5 of 27 action items and has failed to meet agreed deadlines.

Structural Regulation

China Eases Rules on Backdoor Listings for Some Firms

23/10/2019

Assets in high tech and strategically important emerging sectors that “conform to the national strategy” can be used to restructure ChiNext companies, the CSRC says.

AI Risk & Governance

Suptech Gains Momentum but Approaches Vary: FSI Paper

23/10/2019

Suptech use cases have mainly clustered around misconduct analysis, reporting and data management, according a new paper from the BIS Financial Stability Institute.