Enforcement

SFC Disciplines Takeovers Code Breach with ‘Public Criticism’

30/10/2022

Gold Dragon Worldwide Asset Management failed to disclose trades in a stock during an offer period despite it controlling more than 5 percent of the stock.

Crypto / Digital Assets

UK Lawmakers to Extend FCA Remit to Cover All Crypto

30/10/2022

An amendment to the Financial Services and Markets Bill will empower the FCA to regulate crypto promotions and ban companies that are not authorised to operate in the UK.

AML / KYC

Hong Kong CR to Shield Some Director Info from Public View

30/10/2022

Residential addresses and full ID numbers will be replaced with correspondence addresses and partial ID numbers. FIs can still apply for access to the full data.

AML / KYC

Australia: Budget Measures Provide Boost to Scam Prevention

30/10/2022

The budget also includes funding for APRA and ASIC to increase their staff numbers, an independent review of the carbon market, and the introduction of climate reporting standards.

Securities / Derivatives

US SEC Finalises Clawback Rule on Erroneously Paid Compensation

30/10/2022

The rule will require issuers to develop and implement a clawback policy for compensation that was erroneously awarded based on incorrect financial statements.

Market Infrastructure

China Eases Foreign Investment Access With New Catalogue, Incentives

30/10/2022

The catalogue lists 519 sectors in which foreign investment are encouraged. Measures to facilitate foreign investment and attract foreign talent were also announced.

Hong Kong to Tighten Lending Rate Caps from 30 December

29/10/2022

Banks should start notifying customers of the new interest rate limits as soon as practicable and not later than 14 November.

AML / KYC

Top Prosecutor Arrests Former China Merchants Bank President

29/10/2022

The arrest followed the completion of an investigation into allegations of bribery, abuse of power, and trading on nonpublic information.

Enforcement

ASIC Issues First Penalty Over Greenwashing Concerns

29/10/2022

ASIC said Tlou Energy made “false or misleading sustainability-related statements” in materials filed with ASX about its energy production.