Enforcement

Goldman Banker Tim Leissner Banned for Life in Hong Kong

04/07/2019

Leissner’s conduct in relation to the Malaysian state fund 1MDB called into question his fitness and properness to be a licensed person, the SFC said.

Market Infrastructure

RBI to Review Framework for Core Investment Firms

04/07/2019

Concerned that oversight of increasingly complex core investment firms is now inadequate, the RBI has set up a working group to review its framework.

Fintech / Regtech

Asia Ahead of Other Regions in FinTech: IMF

04/07/2019

Policymakers are facing a balancing act between keeping up with the pace of fintech development and trying to ensure risks are well understood and mitigated.

CBIRC to Tighten Rules on ‘Cash Management Products’

04/07/2019

CMPs are issued by banks, offering higher yields than money market funds and promising a high level of liquidity, but there are no restrictions on how CMP funds can be invested.

Enforcement

Hong Kong Hedge Fund Penalised by CFTC, CME

04/07/2019

Elephas Investment Management was found to have violated wheat futures speculative position limits established by the CFTC.

Market Infrastructure

ASIC Proposes Licensing Relief for Foreign Funds Managers

04/07/2019

ASIC proposes to exempt foreign fund management providers from the requirement to hold an AFS licence to provide services to professional investors in Australia.

Market Infrastructure

G-SIBs Making Steady, Significant Progress on TLAC: FSB

04/07/2019

The FSB says further efforts are needed to ensure that TLAC will be available in the right amounts at all locations within a group during a crisis.

Fintech / Regtech

Singapore Digital Banks to Disrupt Smaller Incumbents the Most

04/07/2019

Singapore’s big banks will be able to defend against new digital entrants, while small foreign-owned incumbents will face the greatest disruption risk, says Moody’s Investors Service.

Enforcement

SFC Gains Access to Mainland Audit Papers for Investigations

04/07/2019

The MOF and CSRC agree to provide the “fullest assistance” in response to SFC requests for investigative assistance regarding the provision of audit working papers.