Securities / Derivatives

CSRC Asks Brokers to Issue CDS on Private Company Bonds

19/04/2019

The move is aimed at helping private companies to raise funds on the market. CDS products, though new to China, will provide assurances against default.

AML / KYC

FATF Releases Mutual Evaluation Report on China

19/04/2019

Some of the gaps identified relate to an insufficient focus on non-financial businesses and professions, difficulties identifying beneficial ownership, and an inadequate sanctions framework.

Enforcement

SFC Fines Hedge Fund Manager for Naked Short Selling

19/04/2019

Nine Masts Capital sold shares in Yuzhou Properties in May 2015 before a share placement was complete, based on verbal confirmation of its allotment.

Crypto / Digital Assets

RBI Unveils Draft Framework for Regulatory Sandbox

19/04/2019

The framework details a comprehensive selection process to identify 10-12 entities to participate in the sandbox, including a 5 million rupee minimum net worth requirement.

Fintech / Regtech

Korea FSC to Use Technology to Deter Misleading Marketing

19/04/2019

The FSC wants to ensure consumers are protected as financial services become more accessible through digital platforms through the introduction of open banking.

Securities / Derivatives

TWSE to Monitor ETFs, ETNs for Pricing Discrepancies

19/04/2019

The TWSE will issue public notifications, based on comparisons of ETF and ETN price movements with the values of their underlying securities.

Enforcement

NAB Provisions Extra A$750mn for Customer Refunds

19/04/2019

The additional provisions reflect expected payouts for NAB’s employed advisers, and the costs to review advice provided by its self-employed adviser network.

Uncategorised

S. Korea Passes Law Allowing Robo Advisers to Manage Funds

18/04/2019

Korea is allowing robo advisers to operate funds, provided they are managed in line with disclosed objectives and have security breach prevention measures in place.

Fintech / Regtech

S. Korea FSC Accepts First Nine Fintech Sandbox Participants

18/04/2019

South Korea’s financial regulator has announced the first nine fintech services that it will allow to operate in its regulatory sandbox.