Trading & Investment

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.

Credit Risk

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.

Market Abuse

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.

Structural Regulation

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.

Conduct, Culture & Accountability

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.

Credit Risk

Singapore Large Exposures Rules to Take Effect in Oct 2020

22/08/2019

MAS published a draft large exposures framework in early 2018, trying to meet the BCBS timeline for adoption in January 2019. The final rules will now take effect in October next year.

Anti-Money Laundering

Australia Introduces Bill to Criminalise Cash Payments Over A$10,000

22/08/2019

Under the proposed law, Australians would face up to two years’ jail and A$25,200 in fines if cash transactions between business and individuals exceed A$10,000.

Anti-Money Laundering

NTU Singapore to Develop New Tools to Fight Money Laundering

22/08/2019

Supported by the MAS and Singapore’s major banks, the project seeks​ to help wealth managers address money laundering risks with new AI and machine learning capabilities.

Structural Regulation

Goldman Files Application to Control China Securities JV

22/08/2019

Goldman is seeking to bring its China business in line with its operations in other parts of the world – as its local partner folds its operations into the joint venture.