Trading & Investment

KRX to Enable Local Access to Foreign ETF Trading

25/09/2019

Access will be enabled through an ‘ETF of ETF’ structure, under which locally tradeable ETFs will invest in individual foreign ETFs.

Resolution & Recovery

BSP Enhances Rules on Voluntary Surrender of Banking Licences

24/09/2019

The guidelines are aimed at improving protections for depositors and creditors of banks that have decided to cease operations.

Market Abuse

US, UK Agencies Work to Clean Up Credit Derivatives Market

24/09/2019

In a joint statement, the SEC, CFTC and FCA have pledged to work together to address “opportunistic strategies” that harm the credit derivatives market.

Liquidity Risk

SEBI Prescribes New Risk Management Norms for Liquid Funds

24/09/2019

From 1 April 2020, liquid and overnight funds must hold at least 20% of their net assets in liquid assets such as cash, government securities and treasury bills.

Market Abuse

US SEC Settles Charges Against Nissan, Former CEO

24/09/2019

As settlement for underreporting CEO compensation, Nissan agreed to pay $15mn, while ex-CEO Carlos Ghosn will pay $1mn and get a 10-year officer and director bar.

Anti-Money Laundering

AUSTRAC Orders AML/CTF Audit at PayPal Australia

24/09/2019

AUSTRAC’s order follows a self-reported issue PayPal detected in its reporting system for international fund transfer instructions, which it said it was working to remediate.

Anti-Money Laundering

Taiwan Seeks Significantly Higher Penalties for Tax Evasion

24/09/2019

Reports indicate there is considerable support to raise the maximum fine for tax evasion from NT$60,000 to NT$100mn.

Emerging Prudential Risks

DTCC Calls on Industry to Prioritise Business Resilience Efforts

24/09/2019

Firms must establish resilience as a business-owned strategic initiative, and be willing to prioritise business resilience over efficiency in some cases, says a new DTCC whitepaper.

Trading & Investment

Civil Unrest Forces Brokers to Exit Hong Kong Market

24/09/2019

Since the Hong Kong protests began in June, ten brokerage firms have reportedly exited the market amid lower turnover and shrinking commission revenues.