Conduct, Culture & Accountability

China Targets Investment Banking Controls at Securities Firms

04/12/2022

CSRC penalises multiple securities firms. New evaluation system will lead to more intense supervision of firms with lower-quality investment banking practices.

PEPs & Sanctions

UK Sanctions 22 Russian Officials for Conscription Efforts

04/12/2022

The sanctions target officials who have promoted and enforced the conscription of citizens to fight in Russia’s “illegal war in Ukraine”.

Market Data & Technology

JPX Acquisition to Improve English Disclosures by Listed Companies

04/12/2022

JPXI will acquire SCRIPTS Asia, which creates English transcripts of investor events held by listed companies and distributes them to domestic and overseas investors.

Fraud, Scams & Cybercrime

Police Ad Test Highlights Hong Kong Scam Threat – Report

04/12/2022

A fake raffle webpage run by the police attracted nearly 300,000 visits in just two weeks, highlighting the surge of scam cases in Hong Kong.

Resolution & Recovery

APRA Finalises Standards on Recovery and Exit Planning

04/12/2022

The new standard will come into effect from 1 January 2024 for banks and insurers and from 1 January 2025 for RSE licensees.

Trading & Investment

HKFE Invites Firms to Support Development of FX Derivatives Market

04/12/2022

HKFE is seeking liquidity providers and market participants to support the development of liquidity in RMB and INR derivatives contracts.

Conduct, Culture & Accountability

BSP Issues Rules to Implement New Financial Consumer Protection Law

04/12/2022

The BSP will be able to adjudicate cases involving financial transactions that are of civil nature and order reimbursements up to PHP 10 million.

Fraud, Scams & Cybercrime

US Banks Preparing to Accept More Liability for Zelle Frauds

04/12/2022

Under the planned rules, member banks would be responsible for certain fraudulent transactions made on the Zelle network, even if self-initated by the customer.

Anti-Bribery & Corruption

FCA Fines Julius Baer UK Unit for Over ‘Corrupt’ Finders Fees

03/12/2022

Julius Baer improperly paid “corrupt” finder’s fees to a Yukos Group employee in exchange for business from the now-defunct Russian conglomerate.