Market Infrastructure

LME Proposes to Enhance Reporting of OTC Metals Trades

21/05/2022

Banks would be required to report all off-exchange trades in aluminium, copper, nickel, tin and zinc on a weekly basis.

Securities / Derivatives

New Zealand Fund Manager Fees Overshadow Performance: FMA

20/05/2022

Fund managers are showing repeatable performance but the “benefits of their skill” are being overshadowed by fees and commissions paid to third parties.

Shanghai Directs Exchanges, FIs to Resume On-site Operations

20/05/2022

864 financial institutions are on a list of white-listed entities that are allowed to start sending employees back to the office. The list will be updated weekly.

Enforcement

RBNZ Finalises Guidelines on Enforcement Principles and Criteria

19/05/2022

The enforcement principles guide RBNZ’s investigation and enforcement strategy. The enforcement criteria help determine the appropriate enforcement response to non-compliance.

AML / KYC

US Warns Against Inadvertent Hiring of DPRK IT Workers

19/05/2022

North Korean IT workers may try to obtain employment building crypto exchange platforms and then use the infrastructure to launder money and evade sanctions.

Fintech / Regtech

SEBI Seeks to Ban Celebs from Promoting, Endorsing Crypto

19/05/2022

SEBI suggested to a parliamentary committee that prominent public figures be barred from promoting or endorsing crypto products.

Market Infrastructure

HK PCPD Issues Guidance on Cross-border Data Transfers

19/05/2022

Recommended model contractual clauses are provided for scenarios where personal data is transferred across borders to another data user or to a data processor.

MAS Revises Notice on Unsecured Credit Facilities for Retail

19/05/2022

Banks should not increase credit limits if the total outstanding unsecured credit would exceed 6 times the borrower’s monthly income.

Enforcement

HK ICAC Charges Ex-Sunway Employee for Money Laundering

19/05/2022

A former personal assistant helped his boss to launder HKD 125 million borrowed from listed company Sunway International Holdings.