AML / KYC

HKMA Fines ePaylinks Technology for AML/CTF Breaches

20/12/2021

SVF licensee ePaylinks had deficiencies in its transaction monitoring and name screening systems, and failed to take enhanced measures in high risk situations.

Securities / Derivatives

UBS, China Life to Set Up Asset Management JV – Report

20/12/2021

China Life and UBS have reportedly signed an MoU to set up the joint venture, though the formal launch will be subject to approval from the CBIRC.

Enforcement

Taiwan FSC to Raise Fines for Securities Investment Trust Businesses

20/12/2021

The maximum fine for violations by securities investment trust and securities investment consulting businesses will rise from TWD 3mn to TWD 15mn.

Securities / Derivatives

OJK Indonesia Suspends Granting of New Asset Management Licences

20/12/2021

OJK said the moratorium will allow it to evaluate governance, capacity and prudential practices in the mutual fund industry.

ESG / Sustainability

Korea FSC, KRX Launch ESG Information Platform

20/12/2021

The platform provides information about listed companies’ ESG activities, ratings, sustainability reports and environmental disclosure information.

Securities / Derivatives

Hong Kong FRC Issues Guidance for Audit Committees

20/12/2021

The guidelines are intended to help audit committees adopt best practices in selecting auditors that will enhance the quality of corporate reporting.

ESG / Sustainability

ESG Products, Retail Investors to Propel Asia Derivatives Market

20/12/2021

in 2022, Asia derivatives market growth will be driven by ESG-related products and increased retail investor participation.

Big Picture

Global Debt Reached Record $226tr in 2020: IMF

20/12/2021

The debt surge has amplified vulnerabilities and constrained the ability of governments and the private sector to support the recovery.

Enforcement

Japan SESC Recommends Fine for Insider Trading on Crypto Hack

20/12/2021

An individual who learned about the July 2019 theft of cryptocurrency from BITPoint Japan sold shares in its parent before the hack was publicly disclosed.