Securities / Derivatives

SFC Issues Circular on Use of Annualised Returns for MMFs

26/10/2023

The SFC has decided to allow fund managers and intermediaries to present annualised returns for MMFs for periods of less than one year.

UK Regulators Announce Removal of Banker Bonus Cap

25/10/2023

The BOE and FCA have scrapped rules for banks, building societies, and investment firms which cap bonuses at twice annual salary.

Enforcement

US SEC Fines BlackRock Unit Over Inaccurate Investment Descriptions

25/10/2023

BlackRock Advisors LLC incorrectly described a company that a fund it advised invested in and the interest rate the investment paid.

AML / KYC

ABS Says Anti-Scam Measures Have Been Effective

25/10/2023

Banks prevented more than S$57mn in scams in the first nine months of 2023, and are applying discretionary goodwill frameworks to cushion victims.

Crypto / Digital Assets

Euroclear Launches DLT-based Digital Securities Issuance Service

25/10/2023

The inaugural Digitally Native Notes were issued by the World Bank on LuxSE, raising €100mn to finance sustainable development activities.

AML / KYC

Wolfsberg Group Updates Payment Transparency Standards

25/10/2023

The updated Standards support the use of the LEI in global payments, which GLEIF welcomed as a “strong endorsement”.

Securities / Derivatives

MAS to Streamline Regulatory Regime for Fund Managers

24/10/2023

The RFMCs regime will be repealed. Existing RFMCs will transition to become Licensed Fund Management Companies instead.

Enforcement

China’s Foxconn Investigation Making Investors Uneasy – Reports

24/10/2023

Reports suggest the investigation is politically motivated, because Foxconn founder Terry Gou is seeking Taiwan’s presidency.

Securities / Derivatives

Zhengzhou Exchange Launches Six New Commodity Options

24/10/2023

ZCE started trading options contracts staple fiber, soda ash, apples, manganese silicon, ferrosilicon and urea.