Conduct, Culture & Accountability

HK SFC Releases 1st MiC Regime Guidance Bulletin

20/12/2017

Report warns on conflicts of interest in sales practices and asset management; notes asset management sector now has more than half of all intermediaries.

Sustainable Finance

Malaysia Raises Standards for SRI Funds

20/12/2017

New guidelines introduce additional disclosure and reporting requirements for SRI-designated funds.

Structural Regulation

Australia FinTech Body Embraces Provisional Bank Licencing

20/12/2017

Industry body recommends increasing the deposit limit for new banking entrants, allowing more time to meet the prudential framework.

Anti-Money Laundering

Singapore Issues 7th, 8th Bans Related to 1MDB Probe

20/12/2017

Yeo Jiawei, a former BSI wealth manager, gets lifetime ban to add to his convictions for 1MDB related money laundering, cheating and witness tampering.

Conduct, Culture & Accountability

Australian Banks Agree New Code of Conduct

20/12/2017

Code of conduct, which is awaiting approval by ASIC is legally binding in contracts with consumers, bans unsolicited credit card limit increases.

Supervision & Enforcement

Thailand, Philippines Forge Agreement on Banking Supervision

19/12/2017

Central banks commit to fostering information exchange and cooperation in areas of licensing, on-site examinations, supervisory colleges, crisis management.

Capital Adequacy

HK SFC Proposes Raising Capital Required by Fund Managers

19/12/2017

Consultation covers raising of minimum capital requirement to HKD10 million, introduction of derivatives use by public funds with enhanced safeguards.

Structural Regulation

Shenzhen, Laos Exchanges Sign MoU on Capital Market Cooperation

19/12/2017

SZSE and LSX to share information, personnel, technology, expertise; financial infrastructure connectivity to facilitate cross-border ‘economic corridor’.

Trading & Investment

Standard Chartered Brokerage Arm Hit With $330,000 Fine

19/12/2017

SFC investigation reveals internal control failures resulted in at least 61 regulatory breaches involving short selling, required liquid capital deficit of HKD2 billion.