Enforcement

FSS Korea Orders Woori, IBK to Compensate Lime Investors

25/02/2021

The FSS will encourage banks and securities firms that sold frozen Lime funds to voluntarily settle disputes with other investors based rates set at the ruling.

AML / KYC

Singapore Police Set to Charge Suspect in Covid-19 Scam

24/02/2021

Last March, the suspect used the identity of a legitimate company to advertise and sell surgical masks and hand sanitisers that were never delivered.

Capital / Liquidity

FSC Korea to Tighten Liquidity Rules for Credit Finance Companies

24/02/2021

Specialised credit finance companies will be required to implement new best practice guidelines on liquidity risk management, enhance disclosures, and use less leverage.

Market Infrastructure

CBIRC Issues New Guidelines on Reputational Risk Management

24/02/2021

The guidelines set out four principles for all CBIRC-regulated financial institutions to incorporate in their reputation risk management systems.

AML / KYC

Financial Crime Challenges and Opportunities for the Year Ahead

24/02/2021

Financial crime compliance experts Radish Singh, Richard Carrick, Oonagh van den Berg and Michael Meadon discuss challenges and opportunities for the year ahead.

Securities / Derivatives

Schroders Wealth Management JV Wins CBIRC Approval

24/02/2021

The joint venture with BOCOM will become the third wealth management JV with foreign majority owners to receive regulatory authorisation in China.

AML / KYC

Australian Police Charge Man for Crypto Related Money Laundering

23/02/2021

Police say the Sydney man directed “money launderers for hire” to convert nearly A$5.5mn of cash into bitcoin on his behalf.

Securities / Derivatives

Bursa Malaysia to Allow Lower Public Shareholding Spreads

23/02/2021

The exchange will consider applications from issuers to have public shareholding spreads of between 15% and 20%, compared to current requirements for 25%.

AML / KYC

OJK to Require P2P Lenders to Report Transactions From 1 April

23/02/2021

The move is aimed at preventing the P2P lenders from being used for money laundering and terrorism financing, said OJK Deputy Director Munawar.