ASIC Warning Prompts FX Brokers to Halt Overseas Services

21/05/2019

Two Australian FX brokers announced they will stop servicing overseas customers, after ASIC warned they may be breaking the law in other jurisdictions.

AML / KYC

Bangladesh FIs Report Suspicious Activity at Record Levels

21/05/2019

The increase in suspicious activity reported is an indication of the financial industry’s commitment to fighting money laundering and terrorism financing.

Market Infrastructure

Hong Kong FRC’s New Oversight Powers Start in October

21/05/2019

The Financial Reporting Council will commence its role as the independent oversight body for auditors of listed companies from 1 October this year.

Securities / Derivatives

HKEX to Extend After-Hours Session From 17 June

21/05/2019

The enhancement will provide investors greater flexibility during US market hours and improve risk management, HKEX says.

Market Infrastructure

SC Malaysia Issues Property Crowdfunding Rules

21/05/2019

Malaysia’s Securities Commission has released guidelines for property crowdfunding, while also authorising new equity crowdfunding and P2P platforms.

Capital / Liquidity

ANZ New Zealand Censured Over Internal Models

21/05/2019

The Reserve Bank of New Zealand has revoked ANZ’s right to model its operational risk capital requirements due to persistent failures in controls.

Market Infrastructure

Calastone Goes Live with New Blockchain Infrastructure

21/05/2019

The launch comes as funds globally experience significant margin pressures, and amid a need for reduced frictions in cross-border distribution of funds.

Enforcement

Ex-JP Morgan Managing Director Charged with Bribery

20/05/2019

A former JP Morgan Securities managing director offered to employ the son of a potential client as a reward for “showing favour” in hiring the bank for IPO sponsor work.

Securities / Derivatives

BNM Announces Initiatives to Boost Market Liquidity, Accessibility

20/05/2019

The changes include enhanced repo market liquidity and flexibility, easier access to forex market, and an improved delivery mechanism for MGS futures settlements, among others.