Market Infrastructure

LCH Expands Eligible Collateral to Include SGD Securities

20/10/2021

LCH says accepting SGD collateral will be an important tool for improving liquidity management and optimising margin costs.

AML / KYC

India, US Pledge to Take Stronger Action Against Financial Crime

20/10/2021

Indian finance minister Nirmala Sitharaman and US treasury secretary Janet Yellen also pledged to further engage on climate change.

Enforcement

Australian Court Fines Colonial First State for Misleading Members

19/10/2021

The court said Colonial First State Investments engaged in a 26-month “concerted campaign” that sought to take advantage of members.

FMA Sets Target Dates for Financial Advice Licensing

19/10/2021

Transitional licences under the new financial advice regime will expire on 16 March 2023. Providers are asked to apply for full licences ahead of time.

Enforcement

NZ FMA Censures Jarden Securities for Client Money Breaches

19/10/2021

OM Financial, which amalgamated with Jarden in March 2021, transfered its own money into the trust account designated to hold investor money.

Securities / Derivatives

Tokyo Stock Exchange Plans to Extend Trading Hours – Report

18/10/2021

Japan’s trading day runs for just five hours each day, an outlier among major markets. The bourse will reportedly propose a 30-minute extension.

Enforcement

SFC Penalises IPO Sponsor Over Substandard Due Diligence Work

18/10/2021

Ample Capital Limited failed to conduct adequate due diligence on suspicious cash settlements and to keep proper records of its due diligence work.

Securities / Derivatives

HKEX Launches First China A-Share Futures Contract

18/10/2021

The contract is based on the MSCI China A 50 Connect Index, which tracks the performance of 50 key Shanghai and Shenzhen stocks available via Stock Connect.

Securities / Derivatives

Goldman Approved to Take Full Ownership of China Securities Unit

18/10/2021

Goldman Sachs becomes just the second US bank to gain full ownership of its Chinese entity, after JP Morgan in August.