AML / KYC

Malaysia: BNM Announces Penalties Against Ten Entities

04/09/2023

Seven entities within a group accepted deposits without a licence. Three other entities breached AML/CFT requirements.

Enforcement

Taiwan: Cathay Financial Units Fined for Connectivity Issues

04/09/2023

Cathay Securities and Cathay Futures failed to perform capacity tests and application system stress testing operations, the FSC said.

Securities / Derivatives

New Rules for CFD Trading Take Effect in Korea

03/09/2023

Only four of 13 local securities firms that offered CFD trading have decided to resume the service under the new regulations.

Fintech / Regtech

China Issues New Data Security Rules for Money Brokers

03/09/2023

The rules set out requirements for money brokers that provide data services to customers. A list of permitted data recipients is published.

Market Infrastructure

CSRC Unveils 19-Point Enhancement Plan for Beijing Stock Exchange

01/09/2023

The plan includes more market makers, and greater participation from overseas investors, publicly offered funds, and private equity funds, among other measures.

Sanctions

US, Korea, Japan Announce New DRPK Sanctions

01/09/2023

The three countries pledged to continue working together to counter North Korea’s destabilising activities, including weapons development and cyber attacks.

HKMA Eases Audio-Record Requirement for PLP Sales

01/09/2023

Banks selling PLP products can adopt other post-sale controls instead of audio recording the entire selling process.

Market Infrastructure

ASIC, RBA Set Expectations for ASX Industry Engagement

01/09/2023

ASIC and the RBA directed ASX to use its new advisory group to seek advice on Australia’s possible implementation of T+1 settlement.

Capital / Liquidity

Investors Sue MUFG Unit Over Credit Suisse AT1 Losses

01/09/2023

The plaintiffs say Mitsubishi UFJ Morgan Stanley Securities sold them the AT1 bonds without providing sufficient explanations and in violation of suitability rules.