Enforcement

HK Court Convicts Former Convoy Executives for Fraud

21/09/2021

Former Convoy executives conspired to dishonestly arrange for bond placement commissions to be diverted to a company they substantially owned.

ESG / Sustainability

BCBS Calls on Banking Sector to Enhance Cyber Defences

21/09/2021

Remote work arrangements and digital financial services have “enlarged banks’ attack surfaces”, creating opportunities for malicious actors, the BCBS said.

Securities / Derivatives

JSDA to Form Industry Panel to Review IPO Pricing Mechanism

20/09/2021

Startups say IPO prices are set too low prior to listing and that they have often surged on listing. Brokers say the gaps are caused by volatility.

Enforcement

FSS Korea to Appeal Ruling Nullifying Woori Chairman Ban

20/09/2021

The appeal will follow a court decision to nullify an FSS decision to ban Woori Financial Group chairman Sohn Tae-seung for three years.

Fintech / Regtech

BSP Grants Sixth Digital Bank Licence to PayMaya

20/09/2021

The seventh and final digital bank is likely to be an existing bank applying to convert into a digital bank, but approval has been delayed.

Market Infrastructure

OSE, TOCOM Launch New Derivatives Trading System

20/09/2021

J-GATE 3.0 will help to expand market liquidity and improve reliability and convenience for investors and trading participants.

Securities / Derivatives

Montréal Exchange Extends Trading Hours to Accommodate APAC

20/09/2021

The Canadian derivatives exchange said it is syncing its trading hours with APAC markets to support growing investor demand.

Securities / Derivatives

CSRC Drafts Disclosure Rules for SMEs on New Beijing Exchange

20/09/2021

The proposed rules sets requirements on disclosure content and format to ensure the effectiveness and readability of information disclosures SMEs on the BSE.

Market Infrastructure

BSP Instructs Banks to Proactively Transition from LIBOR

20/09/2021

The BSP is not looking to prescribe specific alternative reference rates for use by Philippine banks, saying these choices should be market-driven.