Cryptocurrency

Malaysia to Finalise Regulatory Framework for ICOs by Year-End

06/07/2019

A framework for ICOs, originally expected by the end of Q1, is now under review by relevant stakeholders, according to deputy finance minister Datuk Amiruddin Hamzah.

Structural Regulation

JPMorgan, Morgan Stanley to Take Control of China JVs

06/07/2019

JPMorgan is likely to become the first foreign firm to gain a controlling stake in an asset management joint venture in China, while Morgan Stanley may soon control its China securities unit.

Conduct, Culture & Accountability

SFC Warns Against Misconduct Involving Acquisitions, Disposals

06/07/2019

Directors of listed companies have a duty to exercise due and reasonable care, skill and diligence when evaluating or approving the acquisition or disposal of a company or business.

Fraud, Scams & Cybercrime

Former Barclays Singapore Director Gets 13-Year Jail Term

05/07/2019

The former private banker forged signatures and documents to siphon off $10mn from client bank accounts between 2010 and 2013.

Data Privacy

Australia: Consumer Data Right Legislation Could Delay Open Banking

05/07/2019

The Consumer Data Right Bill is needed for banks to be able to transfer their customers’ personal data to another institution, a cornerstone of the open banking initiative.

Liquidity Risk

Australia, India Compliant with NSFR, Large Exposures Framework

05/07/2019

The BCBS has assessed the implementation of the NSFR and large exposures framework in Australia and India to be ‘compliant’ with its standards.

Structural Regulation

CBIRC Green-Lights Three City Commercial Banks’ WMP Units

05/07/2019

Bank of Hangzhou, Bank of Ningbo and Huishang Bank will form the first batch of city commercial banks to join larger rivals in setting up wealth management subsidiaries.

Trading & Investment

Vietnam Launches Covered Warrants, Govt Bond Futures

04/07/2019

The Ho Chi Minh City Stock Exchange has launched trading in covered warrants; the Hanoi Stock Exchange has launched a new government bond futures contract.

Anti-Bribery & Corruption

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.