Market Abuse

CSRC Launches Probe into Allegations of Market Manipulation

17/05/2021

A fund manager has claimed that at least 18 stocks are being manipulated by the listed companies, private equity funds and publicly offered funds.

KYC & CDD

RBI Relaxes Restrictions on the Use of Video-based KYC

17/05/2021

Video-based KYC can be used for onboarding individual customers, business owners, and authorised signatories and beneficial owners of legal entities.

Clearing & Post-Trade

SEBI Consults on Measures to Protect Client Collateral

17/05/2021

The proposed framework seeks to protect clients’ collateral from being misused or misappropriated by trading or clearing members.

Anti-Bribery & Corruption

China: Former Trust Company Chair Jailed for Corruption

17/05/2021

Gao Fubo is the third chairman of state-owned Jilin Trust to be convicted on corruption and bribery charges. A fourth is awaiting trial.

Supervision & Enforcement

US DOJ Repatriates $460m of Seized 1MDB Funds to Malaysia

16/05/2021

Seized and repatriated 1MDB funds are being utilised to repay and service 1MDB and SRC’s debts, which remain above $10.2billion.

Structural Regulation

PCAOB Proposes Framework for HFCAA Determinations

16/05/2021

The PCAOB will use the proposed framework to determine when it is unable to carry out inspections of overseas audit firms of US-listed companies.

Anti-Money Laundering

US DOJ Penalises Swiss Life for Facilitating Tax Evasion

16/05/2021

Swiss Life and its subsdiaries created and marketed insurance products specially designed for US persons seeking to hide offshore assets and evade tax.

Sustainable Finance

COP Presidency Calls for Ambitious Climate Commitments

16/05/2021

Private financial institutions are encouraged to join a net zero alliance, publish transition plans, phase out of coal, and commit to nature-positive finance.

Conduct, Culture & Accountability

CBIRC Issues Warning Against Improper Sales Practices

16/05/2021

In a notice, the CBIRC points to regulatory violations by Ping An Bank in its credit card sales practices which violated the rights and interests of consumers.