Capital / Liquidity

ASEAN+3 Ministers Work to Bolster Regional Safety Net

04/05/2023

CMIM guidelines were updated to allow members to provide liquidity support in their own domestic currency and the local currencies of other members.

Enforcement

Australia Court Sentences ‘Finfluencer’ for Manipulation

04/05/2023

This is the first time a person has been sentenced under a provision of the Corporations Act that covers the dissemination of information about illegal transactions.

Australia to Align Timing of Super Payments With Wages

04/05/2023

Currently, employers pay superannuation quarterly, even though employees are paid in fortnightly or monthly pay cycles.

Hong Kong Mandatory Reference Checking Regime Now in Force

04/05/2023

The regime requires banks to conduct mandatory reference checks to fill specified positions, to address the issue of ‘rolling bad apples’.

AML / KYC

UK Government Announces New National Fraud Strategy

04/05/2023

Cold calls for financial products will be banned. Banks may be given more time to process payments to allow suspicious payments to be investigated.

Enforcement

SEBI Seeks More Time to Complete Adani Group Probe

04/05/2023

The probe has made slow progress because of difficulties obtaining information from foreign regulators. Some foreign funds have also refused to identify their beneficial owners.

Enforcement

ASIC Penalises Stockbroker for Mishandling Stock Buyback

04/05/2023

During an on-market buyback, Ord Minnett executed a pre-arranged transaction to buy shares at above-market prices, giving “preferential treatment” to the selling client.

Enforcement

Former CITIC Bank Exec Engaged in Insider Dealing, SFC Says

04/05/2023

The former executive of China CITIC Bank International made HK$3mn from using inside information to trade shares of Bloomage BioTechnology Corporation.

Capital / Liquidity

More Credit Suisse AT1 Bondholders Sue FINMA

04/05/2023

The suit means that investors representing up to a third of the $17bn in AT1 bonds issued by Credit Suisse have now launched legal action.