Enforcement

SFC, HK Police Make Arrest Four More in Ramp-and-dump Probe

23/04/2021

Three of the four are senior executives of a listed company. They are said to have embezzled over HKD 19 million of the listed company’s funds.

AML / KYC

BSP Renews Push for Changes to Bank Secrecy Law

23/04/2021

BSP Governor Benjamin Diokno expects a pending bill to be acted upon by Congress as early as May.

Philippines to Grant BSP Authority Over Insurance Commission

23/04/2021

Under a proposed bill, the supervision of the Insurance Commission will move from the Department of Finance to the BSP.

AML / KYC

SFC Imposes Lifetime Ban on Co-CEOs of IDS Forex Ltd

23/04/2021

The co-CEOs knew of their chairman’s arrest and conviction in Korea for fraud but did not report the events to the SFC.

Market Infrastructure

DTCC Study Highlights Need to Enhance Post-trade Processes

22/04/2021

The sell-side is seeking enhancements to reconciliations and confirmations capabilities. The buy-side is focusing on fails and collateral management.

Enforcement

Australian Court Imposes 20-Year Ban on Mayfair 101 Director

22/04/2021

James Mawhinney is prohibited from promoting and raising funds from the public through financial products for 20 years.

AML / KYC

Philippines: PhilSys National ID System Draws 28m Registrations

22/04/2021

The issuance of PhilSys ID cards is expected to start within 2021, eventually replacing most other forms of government-issued ID.

Market Infrastructure

ARRC Outlines Principles for Forward-Looking SOFR Term Rate

22/04/2021

The ARRC said it is seeking to provide greater clarity on the likelihood and potential timing of a recommended SOFR term rate for certain uses.

Securities / Derivatives

SGX Launches New FFA, Futures For Managing Freight Risk

21/04/2021

The new contracts offer participants more precise hedging tools as a recovery drives demand for iron ore and minor bulks, SGX said.