Conduct, Culture & Accountability

Nomura Releases New Code of Conduct for Employees

05/12/2019

Nomura Holdings has released a 19-point code of conduct for its employees following information leaks that subjected the firm to regulatory action.

Conduct, Culture & Accountability

ASIC Bans Cold Call Selling of Life Insurance, CCI Products

05/12/2019

The ban on unsolicited cold-call sales of direct life and consumer credit insurance follows a A$700,000 penalty against CBA’s CommInsure for hawking offences.

Data Privacy

Korea Announces New Measures to Boost Fintech Development

05/12/2019

Among other measures, the FSC said that it would promote the use of regulatory sandboxes to produce at least 100 cases of innovative financial services by March 2020.

Fraud, Scams & Cybercrime

ASIC Takes Legal Action Against Unregistered SMSF Scheme Operators

05/12/2019

Investors were encouraged to roll superannuation monies into a self-managed super fund to invest – by way of a loan – in an unregistered scheme operated a former AMP adviser.

Trading & Investment

China Extends Income Tax Exemptions for Stock Connect Participants

05/12/2019

Mainland investors’ profits made through Stock Connect and the MRF scheme will be exempt from income tax until 31 December 2022.

Structural Regulation

Hong Kong SFC Waives Licensing Fees Amid ‘Challenging’ Environment

05/12/2019

The decision was made to relieve the regulatory cost burden on the securities and futures industry, taking into account the “current challenging market environment”.

Anti-Money Laundering

New Zealand Police Releases AML/CTF Assessment

04/12/2019

NZ Police assessment identified trusts as attractive money laundering vehicles given government plans to exclude them from strengthened beneficial ownership disclosure regime

Sustainable Finance

Japanese Pension Fund Moves Against Short Sellers

04/12/2019

Japan’s Government Pension Investment Fund, the world’s largest, said it will no longer allow overseas shares to be lent out from its global equity portfolio.

Reporting & Disclosures

Almost All SGX Companies Produce Sustainability Reports Since Mandate

04/12/2019

99.8% of SGX listed companies have produced sustainability reports, according to a joint review conducted by SGX RegCo and the Centre for Governance, Institutions and Organisations.