JBA Issues Guidance in Response to Mizuho Glitches

15/03/2021

Banks are asked to carefully prepare for any major system upgrades involving extensive data processing, and to ensure appropriate lines of communication are established.

Enforcement

Woori Accepts FSS Compensation Guideline for Lime Losses

15/03/2021

Woori will compensate investors who lost money from funds managed by Lime Asset Management in line with FSS recommendations.

Market Infrastructure

MAS Proposes Exemption Framework for Foreign Offices of FIs

15/03/2021

MAS is proposing to introduce an exemption framework for foreign head offices or branches that is similar to the proposed notified FRC framework issued in June 2020.

AML / KYC

SFC Fines Sino-Rich Securities & Futures for AML Breaches 

15/03/2021

Sino-Rich Securities & Futures routinely processed 238 cash deposits and 269 third party transfers without adequate AML/CTF controls in place.

Securities / Derivatives

Eurex to List KOSPI 200 Futures Product from 22 March

15/03/2021

Eurex already lists KOSPI 200 Options and Mini-KOSPI 200 Futures. The addition of KOSPI 200 Futures will offer trading, hedging and margin efficiencies.

Enforcement

Singapore Court Jails, Fines Ex-Director for False Trading

15/03/2021

The former director of investment and corporate advisory firm WLA Regnum was jailed and fined for false trading and deceiving UOB Kay Hian.

Enforcement

ASIC Imposes Licence Conditions on OTC Derivatives Issuer AxiCorp

15/03/2021

ASIC has agreed to set aside a January 2020 decision to suspend AxiCorp’s AFS licence following the imposition of additional licence conditions.

Securities / Derivatives

BNM Eases Rules for Non-resident Banks Trading Ringgit IRS

15/03/2021

Non-resident banks can trade ringgit-denominated interest rate swaps without any underlying commitment with any onshore bank or its appointed overseas offices.

Securities / Derivatives

SSE Signs Cooperation Agreement with Serbian Bourse

15/03/2021

The two exchanges will cooperate in information exchange, cooperative research, personnel exchange, and product development.