Market Abuse

IT Consultant of Singapore Investment Bank Charged with Insider Trading

10/12/2018

The US SEC has filed charges against an outsourced IT contractor for trading on inside information while working at the Singapore branch of an investment bank.

Trading & Investment

China to Include Dual Class Shares in Southbound Stock Connect Trading

10/12/2018

Chinese stock exchanges will work with HKEX to formulate rules enabling mainland investors’ access to Hong Kong-listed dual class shares by mid-2019, after banning them in July.

Supervision & Enforcement

China Banking Regulator Fines Six Banks a Combined $22mn

10/12/2018

The CBIRC has fined six banks a combined 156.3 million yuan for breaching rules on wealth management products, lending, and misleading advertising.

Structural Regulation

HKMA to Grant Virtual Banking Licences in Q1 2019

10/12/2018

The HKMA has provided an update on the processing of virtual banking applications, saying it will shortlist one-third of remaining applicants with an aim to granting licences in Q1 2019.

Capital Adequacy

APAC Banks Have Sufficient Buffers to Counter 2019 Risks – Moody’s

07/12/2018

Banks will face challenging conditions in 2019 due to moderating economic growth, slowing credit expansion and US-China trade tensions, but have adequate buffers against growing risks.

Supervision & Enforcement

Korean Regulators Become Latest Signatories to IOSCO EMMoU

07/12/2018

South Korea’s FSC and FSS have jointly become the 10th member of IOSCO’s EMMoU, which enables cross-border sharing of audit papers and telecommunications and internet records.

Cryptocurrency

Malaysia Clarifies Regulatory Treatment of Cryptocurrencies

07/12/2018

ICO issuers and digital asset exchanges will be regulated by the Securities Commission and subject to AML/CTF guidelines, as well as BNM laws and regulations relating to payments.

Market Abuse

Soros-Linked Fund Manager Fined in Hong Kong for Naked Short Selling

07/12/2018

SFM HK Management Ltd, owned by New York’s Soros Fund Management, was fined HK$1.5mn for short selling Great Wall Motors bonus shares before they were available for trading.

Trading & Investment

Shanghai-London Stock Connect Launch Delayed – Report

07/12/2018

The launch has reportedly been delayed in connection with a Brexit parliamentary vote and a lack of clarity from Chinese regulators on technical issues.