Trading & Investment

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.

Anti-Money Laundering

FMA, CLSA Premium NZ Agree Statement of Facts on AML Breaches

11/05/2021

The FMA is seeking a pecuniary penalty against CLSA Premium NZ and costs. The maximum penalty is NZD 2 million.

Clearing & Post-Trade

OTC Clear Launches Clearing for SOFR-HONIA Cross-currency Swaps

11/05/2021

The SFC has approved the launch of clearing services for cross-currency interest rates swaps and basis swaps referencing HONIA and SOFR.

Structural Regulation

HKICPA, FRC Agree to Share Information, Refer Cases

11/05/2021

The MoU is expected to enhance audit quality, contribute to the development of the Hong Kong audit market, and promote confidence in the capital markets.

Fraud, Scams & Cybercrime

ASIC Bans Former ANZ Representative For Eight Years

10/05/2021

The representative falsely witnessed binding nomination of beneficiary forms for 17 clients, backdated documents, and falsified a client’s signature.

PEPs & Sanctions

US Court Lifts Investment Ban Against Luokung Technology Corp

10/05/2021

Separately, China Mobile, China Unicom and China Telecom have lost their appeals of a NYSE decision to delist their shares.

Structural Regulation

Malaysia to Allow Circuit Breaker to Revert to Original Parameters

10/05/2021

The decision reflects the improving economic outlook, the roll-out of the vaccination programme, and the normalisation of global market conditions.

Trading & Investment

Hong Kong Launches Grant Scheme to Lure OFCs, REITs

10/05/2021

OFCs and REITs that set up in Hong Kong can secure funding to cover 70% of eligible expenses paid to Hong Kong-based service providers.

Fraud, Scams & Cybercrime

MAS Issues 10-Year Ban Against Individual for Dishonest Conduct

10/05/2021

The individual carried out fund management activities without holding a capital markets services licence, and later convicted of cheating and imprisoned.