Fintech / Regtech

GFIN Invites Next Batch of Firms to Participate in Cross-border Testing

01/11/2020

Regulators from Australia, Canada, Hong Kong, Singapore, Taiwan, the UK and the US are among those participating in cross-border testing.

Enforcement

MAS Bans Two Former Bankers for Fraud, Dishonest Conduct

01/11/2020

The former OCBC treasury advisor placed unauthorised FX trades in client accounts, while the former UOB relationship manager made unauthorised bank transfers.

Securities / Derivatives

US, Thailand Partner to Strengthen Infrastructure Finance

30/10/2020

The cooperative initiative will focus on the development of financial instruments, project finance, the local debt market, and capital markets.

Market Infrastructure

New York to Provide Safe Harbour from LIBOR-related Litigation

30/10/2020

The legislation provides a safe harbor under New York law from litigation for the use of the recommended benchmark replacement.

Enforcement

SFC Suspends Licence of Mason Securities Representative

30/10/2020

The former licensed representative said she had forgotten to declare an external securities trading account initially, and “could not be bothered to do so subsequently”.

ESG / Sustainability

AIMA, Simmons & Simmons Launch ESG Primer for Asia Fund Managers

30/10/2020

The primer contains key concepts and taxonomy, recent regulatory developments impacting Asia fund managers, and a checklist for developing an ESG strategy and roadmap.

Capital / Liquidity

HKMA Consults on Amendments to D-SIB Framework

30/10/2020

The amendments are aimed at improving the assessment of banks’ complexity in the D-SIB identification process, and reducing the weight of the size factor, among other changes.

Enforcement

Singapore Courts Charge Two for Cheating, False Trading

30/10/2020

Ex-KTL Global CEO Tan Kheng Yeow and OCBC Securities trading rep Tan Chun Yong are said to have been involved in a conspiracy for false trading.

Market Infrastructure

Global UPI Adoption a Key Focus for DSB in Year Ahead

28/10/2020

The DSB has expanded its Technology Advisory Committee to reflect the geographic diversity that will underpin the global UPI implementation effort.