AML / KYC

SFC Fines Yardley Securities for AML/CFT Breaches

17/03/2021

Yardley Securities processed and approved third party fund transfers without proper due diligence. Staff were not aware their employer had an MLRO.

Capital / Liquidity

Banks Facing FRTB Data and Modeling Difficulties

17/03/2021

Data was the number one challenge identified for FRTB implementation, with 59% of 131 respondents to a Bloomberg poll citing it as their main challenge.

Securities / Derivatives

PSE Proposes Tighter Rules for Listings via Reverse Takeover

17/03/2021

Companies will be required to conduct a public offering of at least 10 percent of their shares within one year from closing a transaction that results in a backdoor listing.

Enforcement

Australia Considers Legislation to Make Boards Liable for Cyber Risk

17/03/2021

Legislation currently before Parliament includes security obligations for entities responsible for critical infrastructure, a list that will be significantly expanded.

Capital / Liquidity

Thai Banks Announce Lower Dividends Amid Declining Profitability

17/03/2021

The dividend announcements are in line with the central bank’s requirements for banks to limit payouts to 50 percent of 2020 net profit.

Securities / Derivatives

Taiwan FSC Directs More Firms to File Reports in English

17/03/2021

A total of 657 listed companies are required to file English-language reports this year, up from 351 firms last year.

Securities / Derivatives

SEC Thailand Introduces New Securities Licence Types

17/03/2021

The two new licences are for firms that serve as intermediaries only for equity instruments, and for firms managing private funds.

Big Picture

New Report Explores Outlook for Hong Kong Virtual Banks

17/03/2021

The paper features case studies of  Revolut and Tinkoff Bank, as well as insights from interviews with all eight Hong Kong virtual banks.

Fintech / Regtech

SGX, Marex Spectron Join Forces on Ferrous Analytics Tools

17/03/2021

Marex Spectron will apply its analytics tools on publicly available data for SGX commodity derivatives to provide Titan OTC participants with in-depth analysis and richer datasets