Securities / Derivatives

SEBI Issues Framework for Dealing with CRA Licence Cancellations

17/10/2022

The new framework comes after SEBI for the first time cancelled the licence of a CRA, Brickwork Ratings India, and ordered it to wind down its operations within six months.

ESG / Sustainability

ABS Launches Sustainability Guidelines for Private Banking

17/10/2022

A common industry training benchmark has also been established to help upskill private banking relationship managers in the area of sustainability.

Securities / Derivatives

Taiwan: 12 Fund Managers Selected to Receive Policy Concessions

17/10/2022

Ten foreign fund managers and two investment trust companies will receive preferential treatment for one year.

Enforcement

Hong Kong Court Convicts Former Fulbright Securities AE

17/10/2022

The former account executive, banned for life in 2017, pleaded guilty to employing a fraudulent scheme involving securities transactions in eight stocks.

AML / KYC

FCA Fines UK Challenger Bank for Weak AML Controls

17/10/2022

Gatehouse Bank failed to perform appropriate checks on customers based in high-risk countries and customers that were classified as PEPs.

AML / KYC

Thailand Creates Working Group to Tackle Social Media Scams

16/10/2022

Facebook accounts will be tracked and websites will be blocked if they are found to be promoting fraudulent investment schemes or raising funds illegally.

Crypto / Digital Assets

China Blocks 13 Crypto Apps Found to be Locally Accessible

16/10/2022

13 mobile apps for crypto trading that were still accessible in China have been removed from app stores at the direction of a Beijing court.

Capital / Liquidity

RBI Revises Rules for Asset Reconstruction Companies

16/10/2022

Under the new framework, ARCs can act as resolution applicants under the Insolvency and Bankruptcy Code.

AML / KYC

Singapore: SMS Sender ID Registration to Become Mandatory

15/10/2022

All non-registered SMS sender IDs after 31 Jan 2023 will be channelled to a sender ID with the header “Likely-SCAM”.