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.

Fraud, Scams & Cybercrime

Ethical Failings the Main Reason for Financial Crime – Report

18/12/2017

Survey of Bangladesh banks finds two thirds face financial crime; general banking, credit, IT most vulnerable.

Market Abuse

2017 a Punishing Year for Naughty Traders in China

18/12/2017

China securities regulator has issued 206 administrative penalties in 2017, more than $1bn in fines; increasing cooperation with HK SFC.

Cryptocurrency

Korea to Ban Foreigners from Cryptocurrency Trading Accounts

18/12/2017

Government has made abrupt about turn to legitimize cryptocurrencies by bringing them under greater regulatory purview.

Emerging Prudential Risks

Geopolitical Risk a Grave Concern for Financial Services in 2018

14/12/2017

DTCC report says cyber risk continues to be seen as greatest threat, but many firms now see geopolitical issues as one of the five biggest concerns.