Fraud, Scams & Cybercrime

Singapore: Ex-Agritrade CFO Pleads Guilty to Deceiving Banks

12/12/2022

The former CFO used false financial statements to obtain loans for Agritrade International and its suppliers, causing over $469mn in losses for up to 12 banks.

Market Abuse

FCA Fines Interdealer Brokers Over Inadequate Trade Surveillance

12/12/2022

Between July 2016 and January 2018, BGC Brokers, GFI Brokers and GFI Securities had deficient surveillance processes and insufficient asset class coverage.

Trading & Investment

RBI Allows Resident Entities to Hedge Gold Exposures from GIFT City

12/12/2022

To date, resistant entities in India have not been permitted to hedge their gold price exposures in overseas markets.

Reporting & Disclosures

HKMA Issues Guidance for Banks on Reducing Greenwashing Risks

12/12/2022

The guidance is based on thematic examinations at banks, conducted to ensure they proper systems and control in place to manage their green and sustainable products.

Emerging Prudential Risks

FSB Announces Decision to Discontinue Annual G-SII Identification

12/12/2022

The FSB will instead use assessments available through the IAIS Holistic Framework to inform its considerations of systemic risk in the insurance sector.

Clearing & Post-Trade

Japan FSA Finalises New Derivatives Reporting Guidelines

12/12/2022

The guidelines and associated reporting requirements will take effect on 1 April 2024, incorporating the UTI and CDE.

Sustainable Finance

Bursa Malaysia Launches Shariah Compliant Carbon Exchange

11/12/2022

The first trades will be conducted via an auction in March 2023. Project developers, project proponents, and corporate buyers are invited to participate.

Conduct, Culture & Accountability

SEBI Warns Against Misuse of Whistleblower Policy

11/12/2022

A SEBI official said many whistleblower complaints are frivolous, mischievous or aimed at settling personal scores.

Structural Regulation

Industry Ranks Singapore Top APAC Market to Operate In

11/12/2022

In an ASIFMA survey, capital market participants ranked Singapore as the top market for its political environment and predictable and transparent regulatory policy.