Securities / Derivatives

CSRC Updates Rules to Protect Convertible Bond Investors

28/10/2020

Trading venues will have to develop an investor suitability management system, and securities firms will have to conduct client suitability assessments.

Crypto / Digital Assets

DBS to Launch Digital Exchange, Subject to Regulatory Approvals

28/10/2020

The exchange will offer trading services from fiat currencies to four of the top digital currencies in circulation, as well as capital raising through STOs.

APRA Updates Standard for Reporting Credit Exposures, Provisions

28/10/2020

The draft ARS 220.0 is intended to align with the updated Prudential Standard APS 220 Credit Risk Management, which will come into effect from 1 January 2022.

Enforcement

SC Malaysia Establishes Task Force to Combat Financial Scams

27/10/2020

SC chairman Datuk Syed Zaid Albar SAID Malaysian nationals lost $220mn to financial scams in the first six months of this year.

Capital / Liquidity

MAS Seeks Removal of REIT Manager for SFA Breaches

27/10/2020

Eagle Hospitality REIT Management breached the minimum base capital and financial resources requirements under the SFA three times in the span of about a year.

AML / KYC

PBOC Issues Draft AML Rules for Beijing Real Estate Sector

27/10/2020

The guidelines impose obligations on developers and intermediaries to strengthen AML supervision and management in real estate transactions.

Enforcement

Singapore: Ex-Fund Manager Charged for Acts Likely to Defraud Investors

27/10/2020

The former fund manager allegedly sold bonds at lower-than-market prices from one fund he managed to another fund, knowing there were higher offers for the same bonds.

Securities / Derivatives

FSS Bans Unlicensed Investment Advice on Online Chatrooms

27/10/2020

Unlicensed advisers are barred from giving one-on-one investment advice to clients, but chat rooms have been serving as platforms for illegal consulting.

AML / KYC

China Issues AML/CTF Guidelines for Microfinance Institutions

27/10/2020

The guidelines take immediate effect and are require microfinance institutions to report any transaction worth more than CNY 50,000 within 5 working days.