Securities / Derivatives

SEBI Directs Brokers to Report Cyber Threats Within Six Hours

06/07/2022

Quarterly reports must be issued containing information on cyber incidents, risk mitigation measures, bugs and vulnerabilities, and threat details.

AML / KYC

EU Council Agrees Position on Bloc-Wide AML Authority

06/07/2022

The AMLA will directly supervise certain types of credit and financial institutions, including crypto asset service providers, starting in 2026.

Market Infrastructure

Vietnam Securities Market to Move to T+2 Settlement Cycle

06/07/2022

Under draft regulations, clearing banks will have to complete payment and securities settlement between 11.30am and 12.30pm on T+2.

Fintech / Regtech

JPX Launches ‘J-Quants’ Data Service for Retail Investors

06/07/2022

The service aims to address the difficulties retail investors face in accessing and using raw financial data for investment analysis and decision-making.

Enforcement

Hong Kong Police Arrest Eight in Joint Operation With SFC

06/07/2022

The joint operation involved a loan granted by a listed company to a related party and payments purportedly made to suppliers that instead went to related parties.

AML / KYC

UK Sanctions More Russians, Restricts More Belarusian Trade

06/07/2022

Last week, the UK Parliament’s Foreign Affairs Committee published a report calling on the government to “act now” to tackle the flow of illicit finance through London.

Capital / Liquidity

MAS Issues Guidelines on Islamic Banking in Singapore

06/07/2022

The main risk which is unique to Islamic banks is Shariah compliance risk – where noncompliance with Shariah rulings carries “significant reputational risk”.

Enforcement

Korea FSS Expands Banking Industry Probe into FX Trading

06/07/2022

The probe was prompted by abnormal trading activity at Woori and Shinhan Bank. Other banks have been asked to conduct internal inspections.

Securities / Derivatives

UK to Codify Tax Exemptions for Sovereign Investors into Law

05/07/2022

The proposals seek to ensure the tax exemptions provided to sovereign investors are more targeted towards investment rather than trading income.