Securities / Derivatives

SEBI Standardises Industry Classification Framework for CRAs

11/04/2022

The standardised framework will help enable uniformity in the classifications being used across sectors and in the securities market, SEBI said.

AML / KYC

New York Court Convicts Ex-Goldman Exec in 1MDB Case

11/04/2022

Following an eight-week trial, former Goldman Sachs managing director Roger Ng was convicted on charges of bribery and money laundering. He faces up to 30 years in prison.

Big Picture

Global Standard-setters for Audit Need More Diverse Funding

11/04/2022

A new paper calls for financial commitments from investors, regulators, stock exchanges, national standard-setters and auditors to support the work of international audit and ethics standard-setters.

Fintech / Regtech

APRA to Set Out Expectations for FIs Dealing in Digital Assets

11/04/2022

APRA will not be introducing new regulatory requirements for FIs or attempting to hinder innovation. Rather, it will be asking them to closely assess and monitor new operational risks.

Crypto / Digital Assets

Indonesia to Start Taxing Crypto Investments, Fintech Services in May

10/04/2022

Indonesia will charge a capital gains tax and VAT on crypto transactions, as well as interest and fees generated from fintech services, starting on 1 May 2022.

Enforcement

Westpac Super Trustee Fined for Overcharging Commissions

10/04/2022

On top of a A$20mn penalty, BT Funds Management will pay A$9.8mn in remediation to over 9.900 superannuation members.

Securities / Derivatives

HSBC Raises Stake in China Securities Venture to 90pc

10/04/2022

HSBC Qianhai Securities was set up in 2017 and primarily engages in securities underwriting, brokerage and investment advisory services

Securities / Derivatives

Thai SEC to Allow Use of Foreign Custodians in DR Issuance

10/04/2022

Under revised guidelines, depository receipt issuers can directly appoint a global custodian or foreign agent to hold overseas securities.

ESG / Sustainability

Smaller Super Funds Face Bigger Sustainability Challenges: APRA

10/04/2022

On the whole, assets in small and medium sized super funds are declining. Large super funds can more easily spread their costs over a wider membership base.