Anti-Money Laundering

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.

Market Abuse

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.

Cloud & Infrastructure

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.

Conduct, Culture & Accountability

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.

Trading & Investment

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.

Conduct, Culture & Accountability

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.

AI Risk & Governance

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.

Cloud & Infrastructure

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.

Structural Regulation

SSE Publishes Rules for Sponsors of Sci-Tech Board IPOs

18/04/2019

IPO sponsors will be required to hold stakes of 2-5% in the companies they help list on Shanghai’s new science and technology board.