AML / KYC

Southeast Asia CTF Group Established

23/11/2017

Group led initially by AUSTRAC and Philippines Anti-Money Laundering Council aims to disrupt sources of funding, movement and use of funds.

AML / KYC

Hong Kong to Continue to Allow Mutual Fund Sales Commissions

20/11/2017

Securities and Futures Commission says Hong Kong is not ready to ban commissions and introduce a pay for advice model.

Market Infrastructure

Korea to Launch New OTC Market for Professional Investors

20/11/2017

Existing OTC platform has not been successful due to institutional investors’ concerns about having to give details of their trading strategies.

Securities / Derivatives

Japanese Banks Call for Simplified UPI Rules

20/11/2017

Bankers Association says its members already provide legal identifiers under local regulation and the rules of countries in which they operate.

Capital / Liquidity

Europe Tightens Rules on Overseas Credit Rating Endorsements

20/11/2017

Regulator says about two thirds of credit ratings used for regulatory purposes in the EU cover non-EU issuers of financial instruments.

Enforcement

Ex CITIC Securities President Jailed 3.5 Years for Corruption

16/11/2017

Caixin reports that Cheng Boming was among 11 CITIC executives detained for alleged insider trading and leaking information during 2015 market meltdown.

AML / KYC

Australia, Indonesia, Malaysia to Hold CTF Summit

16/11/2017

Summit to include ‘codeathon’, with 80 participants demonstrating new digital tools and ideas to address the challenge of terrorist financing.

AML / KYC

MAS MD Sets out Fintech Regulation Agenda

16/11/2017

Ravi Menon sets out raft of initiatives including new Payment Services Bill, technology risk management guidelines, machine readable forms.

Market Infrastructure

China to Allow More Foreign Investment in Banks, Majority Stakes in Brokerages

13/11/2017

Move follows introduction earlier this year of licensing system for foreign asset managers to set up private funds in China.