Enforcement

SFC Bans Former Mason Securities Representative for 12 Months

07/07/2021

The licensed representative falsely declared that he provided risk disclosure statements to six clients when they opened accounts.

Market Infrastructure

HKEX to Roll Out New IPO Settlement Platform Next Year

06/07/2021

HKEX will proceed with the development of FINI for handling all Hong Kong IPOs, initially adopting a T+2 settlement cycle.

AML / KYC

FATF Urges Faster Implementation of Travel Rule in Crypto Sector

06/07/2021

Slow implementation of travel rule requirements is acting as a disincentive to VASPs to invest in the necessary technology and compliance infrastructure.

Securities / Derivatives

SC Malaysia Warns Unlisted Public Companies on Share Offerings

06/07/2021

When offering shares, unlisted public companies need to ensure that the prospective investor they approach is a sophisticated investor.

AML / KYC

SFC Fines Yardley Securities CEO for AML/CFT Breaches

05/07/2021

The processing and approval of suspicious third party fund transfers were attributable to the CEO’s failures to discharge his duties, the SFC said.

AML / KYC

Japan to Form Cross-agency AML Team Following FATF Review

05/07/2021

A new team being formed under the Cabinet Secretariat may help overcome the current fragmented bureaucracy and enhance cross-agency coordination.

Enforcement

Westpac to Pay Remediation Over Corporate Actions Failures

04/07/2021

ASIC says it encourages all advice licensees and platform operators to consider their own corporate action management arrangements.

Capital / Liquidity

SEBI Allows Cross Margin Benefits in Commodity Futures Trades

03/07/2021

The move is part of efforts to improve efficiency in the use of the margin capital and enhance market liquidity.

Market Infrastructure

RBI Issues New Guidelines on Outsourcing for Coop Banks

03/07/2021

Cooperative banks should not outsource policy formulation, internal audit, KYC compliance, credit approval and portfolio management.