Fraud, Scams & Cybercrime

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.

Clearing & Post-Trade

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.

Fraud, Scams & Cybercrime

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.

KYC & CDD

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.

Trading & Investment

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.

Trading & Investment

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.

Credit Risk

RBI to Review Efficacy of Regulatory Framework for ARCs

21/04/2021

The RBI has set up an expert panel that will review the role of asset reconstruction companies in the resolution of stressed assets.

Conduct, Culture & Accountability

Australia Issues Draft Bill on Financial Advice Reforms

21/04/2021

The bill will expand the role of ASIC’s Financial Services and Credit Panel so that it operates as the single disciplinary body for financial advisers.

Data Privacy

Taiwan Launches ‘MyData’ Platform With 15 Banks

20/04/2021

The platform allows consumers to use personal data stored by government agencies to facilitate their access to financial services.