Big Picture

Firms Lagging in Preparations for UMR Compliance: Survey

19/09/2020

State Street found that 19% of Phase 5 and 6 firms are fully prepared for UMR compliance. Hedge funds are said to be the least prepared for compliance.

Big Picture

Markets Must Remain Open, Transparent if Volatility Returns: WFE

17/09/2020

Under no circumstances should restrictions on trading be invoked because of increased volatility, the WFE says in a guidance note.

ESG / Sustainability

Malaysian FIs to Pilot Implementation of Climate Risk Taxonomy

16/09/2020

This month, 12 financial institutions will commence a pilot to implement a principles-based taxonomy for classifying climate risk, one of a number of initiatives to build climate resilience.

Enforcement

SFC Bans Sponsor Principal for 20 Months Over 2017 IPO Application

16/09/2020

Former Yi Shun Da Capital CEO breached the code of conduct and sponsor guidelines in his work on the listing application of Imperial Sierra Group in 2017.

Big Picture

Cross-border Real Estate Investors Raise APAC Financial Stability Risk

16/09/2020

Global investors amplify volatility in commercial real estate markets, a phenomenon that has been pronounced during the Covid-19 shock, the BIS says.

ESG / Sustainability

New Zealand to Introduce Mandatory Climate Risk Reporting

15/09/2020

If approved by Parliament, the new comply-or-explain climate risk disclosure regime could come into effect in 2023 at the earliest.

Market Infrastructure

BOT Expects Limited Impact from Transition to THOR

15/09/2020

BOT has asked all commercial banks to form working groups to prepare for the changes, saying it will follow up to assess transition progress.

Enforcement

Korea to Strengthen Penalties for Naked Short Selling

15/09/2020

Under a new bill, unauthorised short selling can be punished criminally, in addition to a penalty up to 300% of profits obtained or losses avoided through the short selling.

AML / KYC

Leveraging Data & Tech in Financial Crime Compliance

14/09/2020

The pandemic has been an agent for accelerated change in operational and frontline functions. Financial crime compliance teams need to get in on the act.