Australia to Allow SMEs to ‘Pause’ Recovery of Tax Debt in Dispute

13/05/2021

Applying to the Administrative Appeals Tribunal to pause the ATO’s debt recovery actions will save small businesses on court and legal fees.

Enforcement

Singapore Court Sentences Former Banker to Seven Years’ Jail

12/05/2021

The former UOB and OCBC banker promoted fictitious deposit and investment products to customers and then misappropriated the funds.

Enforcement

Hong Kong Court Jails Former CCB Asia Sales Representative

12/05/2021

A CCB Asia sales executive secured a loan for a customer whose data was obtained from a DBS sales executive in exchange for a commission.

Securities / Derivatives

China to Launch RBD Palm Olein Options, Open to Foreign Investors

12/05/2021

The DCE is consulting on a new RBD Palm Olein options contract that will be open to foreign investors, as well as an adjustment to its iron ore futures contract.

Securities / Derivatives

Shanghai, Korea Agree to Establish ETF Cross-Listing Mechanism

12/05/2021

Under an MoU, the SSE and KRX will work towards ETF cross-listings, joint development of indices, and stronger cooperation in the bond market.

APRA to Adopt Standard Quarterly Reporting Due Dates for ADIs

12/05/2021

APRA will implement the due date of 35 calendar days after the reporting period for all quarterly reporting forms, except for the modernised EFS reporting forms.

AML / KYC

EBA Consults on Proposals for Central AML/CFT Database

12/05/2021

The central database will serve as an early warning tool to enable competent authorities to act before ML/TF risks crystalise and faciltiate inspections and monitoring.

Securities / Derivatives

Shenzhen Launches Pilot Scheme for Cross-border Investment

12/05/2021

The pilot scheme can be used by qualified domestic investors to invest overseas in unlisted companies and private equity funds.

Securities / Derivatives

Philippine SEC Joins ASEAN Framework for Cross-border Funds

12/05/2021

Regulators from Singapore, Malaysia and Thailand – already part of the initiative – have signed a supplemental MoU admitting the Philippine SEC into the CIS framework.