Enforcement

SFC Fines Ewarton Securities Over Staff Trading Controls

27/05/2021

A lack of internal controls resulted in Ewarton’s failure to detect and prevent unauthorised or improper activities by a licensed representative.

Market Infrastructure

ICMA, Bloomberg Publish APAC Guide on Tough Legacy Bonds

27/05/2021

Up to 80% of tough legacy bonds in APAC have inadequate fallbacks in place, or no fallbacks at all, ICMA and Bloomberg say in a new report.

Big Picture

IIF, ISDA Release Study on Financial Sector Support During Pandemic

26/05/2021

The report recognises the actions of central banks, financial authorities and regulatory agencies amid the pandemic, saying they were critical in stabilising markets.

ESG / Sustainability

FSC Korea Advances Initiatives to Respond to Climate Risk

25/05/2021

The FSC has officially declared support for the TCFD, applied for NGFS membership, and launched a new consultative body with state-backed FIs on green finance.

AML / KYC

HKMA Urges Banks to Use iAM Smart in Remote Onboarding

25/05/2021

The HKMA clarifies that when iAM Smart is used for identity verification, record keeping requirements may be met by retaining data obtained via API.

AML / KYC

Hong Kong to Bar Retail Investors from Crypto Trading

24/05/2021

Hong Kong’s FSTB has issued consultation conclusions on the new licensing regime for VASPs and a new registration regime for precious metals dealers.

AML / KYC

Philippine AMLC to Penalise Firms for Incorrect STR Filings

23/05/2021

AMLC Executive Director Mel Georgie Racela told Regulation Asia that incorrect STR filings identified in a recent review will result in supervisory action.

Capital / Liquidity

ISDA Calls for Uniform Approach to Risk Data Reporting

22/05/2021

Regulators would have a greater degree of confidence in the consistency and accuracy of the risk data being collected if they used an established industry standard in their reporting requirements.

Enforcement

HKEX Finalises Rule Changes to Enhance Market Quality

21/05/2021

HKEX will increase the profit requirement to HKD 80 million in combined profits over the three years. Proposals to enhance its disciplinary powers and sanctions will also be adopted.