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.

Fraud, Scams & Cybercrime

Former NAB Branch Manager Pleads Guilty to Fraud

22/08/2019

The former branch manager has already received a permanent ban from ASIC for making false and misleading statements to NAB in relation to 24 home loan applications.

Sustainable Finance

WFE Explores Sustainability Standards for Commodity Markets

22/08/2019

In a new white paper, the WFE explores potential ways for commodity derivatives exchanges to address the impact of sustainability.

Market Abuse

CSRC Fines Four Individuals for Spreading False News

22/08/2019

The individuals, including a news editor, were fined for spreading ‘fabricated’ news that the CSRC blames for stock market declines in late January.

Trading & Investment

BNM Extends Range of Securities Eligible for Repo

21/08/2019

BNM’s draft policy document proposes to extend the maximum tenor of a repo to five years from 365 days previously, and to expand the securities that are eligible for repo.

Emerging Prudential Risks

APRA Finalises Rule Revisions on Related Entity Exposures

21/08/2019

The revisions may make it more difficult for banking groups to fund offshore business, and force them to restructure or reconsider the relative value of certain group operations.

Anti-Bribery & Corruption

HK Court Orders Confiscation of HK$1.46m from Former UBS Exec

21/08/2019

The case relates to the 2017 conviction of a former UBS associate director for accepting over HK$1.4mn in bribes from a Shenzhen-based client.

Emerging Prudential Risks

Cross-holdings Among Chinese FIs Raise Systemic Risk: S&P

21/08/2019

A new report from S&P says insurers’ high exposure to banks and cross-holdings between banks could heighten systemic risk.

Supervision & Enforcement

ASIC to Initiate Legal Proceedings Against Banks Within “Weeks”

20/08/2019

In addition to the 13 referrals from the royal commission, ASIC has been investigating “three times as many” case studies with a view to initiating legal proceedings in the new few weeks.