Securities / Derivatives

SEBI Cautions Mutual Funds Against Misleading Ads

07/03/2023

Some mutual funds are leading investors to believe they will receive fixed returns, and projecting high returns based on past performance.

Securities / Derivatives

HKEX Identifies Compliance Deficiencies at Some Firms

07/03/2023

Participants should review their current practices and procedures, strengthen their controls, and take immediate actions to rectify any breaches or deficiencies.

Securities / Derivatives

CME Group to Launch Offshore Renminbi Options on 3 April

07/03/2023

USD/CNH options have become one of the most traded pairs in the OTC market. The new listed contracts will offer a centrally cleared alternative.

Enforcement

SFC Bans Former Senior Manager of Citigroup Asia Unit for Misconduct

07/03/2023

Philip Shaw’s misconduct was “intentional, dishonest and contrary to a licensed person’s overarching duty to act in clients’ best interests,” the SFC said.

Enforcement

Singapore Police are Investigating Terraform Labs – Report

06/03/2023

Singapore police confirmed “ongoing” investigations into Terraform Labs, which is also being sued by the US SEC following its collapse last May.

Crypto / Digital Assets

BIS Innovation Hub Nordic Centre Completes Retail CBDC Project

06/03/2023

Project Icebreaker shows that different countries can implement different CBDC solutions and still participate in a formalised interlinking arrangement to enable instant cross-currency transactions.

Securities / Derivatives

Chinese Stock Exchanges Probe Large Covid-related Writedowns – Report

06/03/2023

The Shanghai and Shenzhen stock exchanges have queried companies over why they wrote down the value of assets last year.

BSP Seeking to Eliminate Fees for Small Value Transactions

06/03/2023

The BSP is considering lowering the RRR in exchange for banks waiving their fees on small transactions, as part of efforts to promote financial inclusion.

AML / KYC

US Authorities to Target Those Who Facilitate Sanctions Evasion

06/03/2023

China (incl. HK and Macau), Armenia, Turkey and Uzbekistan are named as “transshipment points commonly used to illegally redirect restricted items to Russia or Belarus”.