Securities / Derivatives

Indian Exchanges Suspend Overseas Index Trading

12/02/2018

BSE, NSE, MSEI to stop issuing market data licenses to foreign exchanges in a bid to halt migration of liquidity from India.

AML / KYC

IMF, ADB, Aus, NZ Seek Lower Cost Remittances for the Pacific

11/02/2018

Possible solutions include enhancing AML/CFT controls at banks, promoting best practices at money transfer operators, improving information sharing by supervisory authorities.

Australia to Crack Down on Tax Avoidance by Multinationals

10/02/2018

Consultations relate to implementation of multilateral which will modify existing bilateral tax treaties, closing loopholes used by multinationals to avoid taxation.

Enforcement

China ‘Techfins’ Alibaba, Tencent Fined for Forex Breaches

10/02/2018

Financial units of Alibaba and Tencent fined for offences including failure to file reports on forex payments by non-residents.

Enforcement

Credit Suisse Hong Kong Fined $5mn

10/02/2018

Regulatory breaches include failures related to segregation of client securities, reporting of transaction, noncompliance with short selling requirements, unsuitability of investment products sold to clients.

Enforcement

RBI to Set Up Dedicated Ombudsman for NBFCs

09/02/2018

New ombudsman scheme will initially cover deposit-taking nonbank financial companies; rules to be laid out this month.

Enforcement

Korea Seeks to Expand Recruitment Probe to NBFIs

09/02/2018

Probe could include some 70 savings banks, insurers, credit card providers and investment companies.

Indonesia Faces Resistance on Asean Banking Protocol

08/02/2018

Indonesian parliamentary commission appear unsure about Indonesian Banks’ ability to compete with foreign banks.

Enforcement

ANZ, Westpac Banks Refund Credit Card Customers

08/02/2018

ANZ to refund AUD10.2mn for improper fee disclosures; Westpac completes AUD11.3mn remediation following review of credit card limit increases.