AML / KYC

MAS Proposes Amendments to Misconduct Reporting Regime

12/07/2018

Proposed changes aim to provide greater clarity on requirements and reduce errors in the submission of misconduct reports; reference checks to be mandatory when recruiting staff.

Fintech / Regtech

BSP Approves Two More Virtual Currency Exchanges

12/07/2018

Virtual Currency Philippines and Etranss accredited by the BSP bringing the total number of virtual currency exchanges in the Philippines to five.

Capital / Liquidity

New Zealand Tightens Rules on Calculating Bank Capital

11/07/2018

RNBZ specifies additional restrictions on banks using internal models to calculate risk-weighted assets, as well as requirements to also use standardised models when reporting and for calculating operational risk.

Enforcement

Citigroup unit Fined HK$4mn for Alternative Liquidity Pool Failures

11/07/2018

SFC found that due to an incorrect system setting for client profiles, over 130 clients had accessed alternative liquidity pool Citi Match without being assessed whether they were qualified investors.

Securities / Derivatives

China Further Opens A-shares Market to Foreign Investors

09/07/2018

CSRC has received tentative State Council approval to allow foreign individuals living in China or working abroad for listed A-share companies to open domestic securities accounts.

Capital / Liquidity

BCBS Publishes Revised Assessment Methodology For G-SIBs

09/07/2018

New framework builds upon consultation last year and provides further guidance on the G-SIB assessment, reporting and higher loss absorbency surcharge. It will be adopted by 2021.

Enforcement

UPDATED – Samsung Securities Fined 144 Million Won For Dividend Error

09/07/2018

South Korea’s FSC fined the company for an April ‘fat finger’ error, which led to the firm issuing 2.8 billion […]

Securities / Derivatives

India’s NSE Accused Of Fraud In Algo-Trading Case

09/07/2018

India’s securities regulator has issued a notice to NSE for allegedly misuse of its co-location facility by some brokers seeking early access to the exchange’s algo-trading system.

Capital / Liquidity

Australia Proposes Credit Card Lending Restrictions

05/07/2018

ASIC has proposed that lenders ensure that new card consumers, or those applying to increase their credit card limit, can repay their credit card debt within three years. The proposal comes after an ASIC review found that 18.5% of Australians were struggling with credit card debt.