Market Infrastructure

China Concludes Third Plenum With Release of Economic Blueprint

23/07/2024

The blueprint for the economy mostly reiterates policy priorities that have been announced over the last few years.

Fintech / Regtech

Korea to Allow Sale of Pension Products That Use AI

23/07/2024

Firms that passed a review can apply for designation as “innovation financial services” in September and sell AI-driven pension products online in December.

Capital / Liquidity

PBOC Unexpectedly Cuts Rates to Stimulate Economy

23/07/2024

The PBOC also said banks can apply for a phased reduction or exemption of MLF collateral if they intend to sell medium- and long-term bonds.

Enforcement

TAIFEX Amends Rules to Increase Penalties for Violations

23/07/2024

The amendments aim to enhance information security standards within futures firms, and better align with penalties in the securities market.

Securities / Derivatives

Tokyo Bourse Now Requires Earnings Reports in HTML Format

23/07/2024

The TSE has been testing the use of HTML format for disclosures by listed companies since December 2021. HTML submission is now mandatory.

AML / KYC

Philippines Enacts Anti-Financial Account Scamming Act

22/07/2024

The law institutionalises penalties for social engineering-related crimes and online scams, including the use of mule accounts.

Sanctions

OFAC Issues Guidance on Extended Statute of Limitations

22/07/2024

OFAC plans to extend record-keeping requirements from five to ten years, to match the new statute of limitations period.

Enforcement

Korea FSS Punishes Brokerage Firm for Mis-selling PE Funds

22/07/2024

Shinyoung Securities failed to properly explain the investment risks to customers when selling Lime and Discovery private equity funds.

AML / KYC

Philippine SEC Launches New Digital Services Platform

22/07/2024

The eSECURE platform will serve as a user’s digital passport to the different online services provided by the SEC.