Securities / Derivatives

Korea Introduces New Rules for Online Investment Advisers

21/08/2024

Firms that offer investment advice through social media and stock trading chatrooms will be regulated as investment advisory firms.

Sanctions

US Sanctions Former Haitian President for Drug Trafficking

21/08/2024

OFAC said Michel Joseph Martelly facilitated the trafficking of dangerous drugs, laundered illicit drug proceeds, and sponsored criminal gangs.

ESG / Sustainability

Singapore Financial Industry Bodies Sign MOU on Skills Development

21/08/2024

Seven associations including IMAS and ABS signed an MOU with IBF and NTUC to promote the adoption of Financial Sector Job Transformation Maps.

Enforcement

China Issues Guidelines on Prosecutions in Financial Fraud Cases

20/08/2024

Organisations and individuals that provide a “one-stop financial fraud service” to companies or enterprises will be “severely punished”.

Sanctions

Shanghai Chip Equipment Firm Sues for Removal from US Blacklist

20/08/2024

AMEC said it has never been involved in any military-related activities and its inclusion in the US blacklist was without legal basis.

Capital / Liquidity

HKMA Consults on Revisions to Based III SPM Module

20/08/2024

The revisions take into account changes to the capital standards that were gazetted in December 2023 as part of the implementation of the Basel III final package.

Japan to Require Foreign Investment Reviews for More Industries

20/08/2024

Foreign investment in companies that produce machinery, equipment, parts, and materials used in semiconductor manufacturing will be subject to review.

AML / KYC

China, US Exchange Letters of Cooperation on Financial Stability

20/08/2024

PBOC and US Treasury officials agreed to strengthen information sharing and coordinate in times of financial stress and operational resilience issues.

Enforcement

US SEC Fines Billionaire Investor Carl Icahn for Disclosure Failures

20/08/2024

Carl Icahn failed to disclose pledges of more than half of his stock in publicly traded Icahn Enterprises for billions of dollars in personal margin loans.