Securities / Derivatives

Taiwan FSC to Check How Brokers Use High-speed Trading for Clients

22/10/2020

The FSC will carry out an inspection at 22 securities firms to check that they are using high-speed trading properly in offerings to clients.

Enforcement

PBOC Fines Six Bank Branches for Customer Data Rights Breaches

22/10/2020

The $6mn in penalties against state-owned banks follows last week’s unveiling of what will be China’s first unified piece of national legislation on the protection of personal data.

Enforcement

Singapore Lawyer Faces Life in Prison for Cheating, Breach of Trust

22/10/2020

The JLC Advisors managing partner absconded with S$33.8mn in client money last year but was arrested in Malaysia. 19 new charges relate to his misappropriation of S$17.5 from another client.

Enforcement

Australian Federal Court Fines OTC Derivative Issuers A$75m

22/10/2020

The three OTC derivatives issues are now in liquidation and have also been ordered pay ASIC’s costs and to refund approximately 10,000 former clients, on top of the penalties.

Enforcement

FSC Korea Kicks Offs New Task Force to Address Illegal Trading

22/10/2020

Korean regulators will work to enhance cross-agency information sharing, introduce a new market abuse monitoring system, and raise penalties for unfair trading activities.

Market Infrastructure

Japan Lawmakers to Propose Streamlining FSA, BOJ Bank Inspections

22/10/2020

Lawmakers reportedly plan to propose that the FSA and BOJ create a committee to address complaints from FIs concerning an overlap between the two agencies in bank inspections.

Market Infrastructure

UK Consults on Post-Brexit Regulatory Framework for Financial Services

22/10/2020

The consultation proposes a blueprint for the future regulatory framework that more clearly allocates responsibilities between Parliament, HM Treasury and financial services regulators.

Capital / Liquidity

APRA Penalises Breach of Prudential Standard on Liquidity

21/10/2020

Bendigo and Adelaide Bank will have to apply a 10 percent add-on to the net cash outflow component of its LCR calculation until its shortcomings have been rectified.

Fintech / Regtech

IMAS Calls on Asset Managers to Join Digital Accelerator Programme

21/10/2020

Under the programme, asset managers will be paired with a shortlisted fintech with the most appropriate solution to the problem statement submitted.