AML / KYC

US Law Firms Look to Capitalise from FinCEN Files

29/09/2020

US law firms are inviting investors to participate in class actions if they lost money in HSBC and StanChart stock following the release of the FinCEN Files.

Enforcement

SFC Fines China Everbright Over Expired Standing Authority

29/09/2020

The standing authority used to pledge client securities to obtain credit lines from banks was not renewed due to a miscommunication between compliance teams.

HKEX Chief Charles Li to Step Down at Year-end

29/09/2020

Charles Li will step down as HKEX Chief Executive on 31 December 2020, but remain as Senior Advisor to the Board for six months.

Securities / Derivatives

Malaysia Extends Margin Financing Flexibilities to Year-end

29/09/2020

The temporary margin financing relief measures due to expire on 30 September will be extended to 31 December 2020.

MAS in Talks with Banks on Extending Relief for Borrowers

29/09/2020

MAS may extend relief measures announced in March which allowed principal and interest payments on loans to be postponed until year-end.

Securities / Derivatives

HKEX Launches Five New MSCI Futures Contracts

29/09/2020

The bourse operator also plans to launch an MSCI Taiwan options contract later this year, subject to regulatory approvals and market conditions.

Enforcement

SFC, IA Sign New MoU on Supervisory Cooperation

28/09/2020

The MoU covers case referrals, joint inspections and investigations, and sharing of information pertaining to products and relevant entities or key persons.

Securities / Derivatives

Singapore’s iFAST to Launch China Private Fund Manager Business

28/09/2020

iFAST Corporation expects to start selling private funds to qualified onshore individual and institutional investors in China in early 2021.

Securities / Derivatives

Korea Considers Capping Margin Lending, Underwriting Fees

28/09/2020

Interest rates on margin accounts vary between 4.5% and 9%; underwriting fees vary between 1% and 6% of the total value of the shares.