Market Infrastructure

FSC Korea Proposes More Flexible Business Conduct Rules

02/06/2019

‘Chinese walls’ at financial firms will be set up around ‘information units’ rather than ‘business units’. Firms can entrust a broader range of business to third parties and IT firms.

Securities / Derivatives

SFC Asks Licensed Firms to Review Controls on Third-Party Deposits

01/06/2019

Senior management will be held accountable for failures to put in place effective policies, procedures and controls for handling third-party deposits and payments.

AML / KYC

Financial Crime on the Rise in APAC

31/05/2019

Almost three-quarters of Asia Pacific organisations have been victims of financial crime in the past year, according to recently published survey results by Refinitiv.

Market Infrastructure

PBOC Sets Up AMC to Manage Deposit Insurance Fund

31/05/2019

The PBOC has reportedly established an independent entity to manage the deposit insurance fund, which was set up in 2015 and has so far accumulated 100 billion yuan.

Market Infrastructure

India Delays CCP Interoperability Framework

31/05/2019

Trading members have been given one more month to develop processes that allow them to choose to clear and settle trades in other clearing corporations.

Enforcement

SFC Fines China Merchants Securities for Mishandling Client Money

31/05/2019

China Merchants Securities has received a second fine this week, this time for using funds from client trust accounts for purposes not allowed under the SFC’s Client Money Rules.

AML / KYC

RBI Allows Banks to Use Aadhaar for KYC

31/05/2019

The RBI will allow banks to use Aadhaar to authenticate and verify customer identities, provided customer consent is obtained.

Market Infrastructure

S. Korea FSC Announces Derivatives Market Reforms

31/05/2019

The minimum deposit requirements will be abolished for professional investors and eased for retail investors. The minimum 20-hour compulsory training requirement will be reduced.

Securities / Derivatives

South Korea Cuts Securities Transaction Tax

30/05/2019

FSC chairman Choi Jong-ku has repeatedly called for a cut in the securities transaction tax to ease the burden it places on stock and mutual fund trades.