Crypto / Digital Assets

HK SFC to Provide Transparency on Crypto Licence Applicants

26/09/2023

The SFC will publish a list of all firms that have applied for a VATP licence and launch other investor education initiatives.

Securities / Derivatives

CSRC Probes Hedge Funds, Brokers Over Quant Strategies – Report

25/09/2023

The CSRC is seeking information on the trading strategies and short-selling activities of quant funds, and their impact on the stock market.

Market Infrastructure

HKMA Designates New Market Makers for Southbound Bond Connect

25/09/2023

The new designations bring the total number of designated market makers for Southbound Bond Connect trading from 13 to 22.

Enforcement

US SEC Fines Citadel Securities for Violating Short-Selling Rules

24/09/2023

Citadel agreed to pay $7mn to settle charges that it incorrectly marked short sale orders as long sales, and vice versa, over a five year period.

Capital / Liquidity

MAS Announces Decision to Increase Deposit Insurance Limit

24/09/2023

MAS will increase the maximum deposit insurance coverage from the current S$75,000 to S$100,000, starting from 1 April 2024.

Enforcement

SEC Fines Goldman for Submitting Inaccurate Securities Trading Data

24/09/2023

Goldman Sachs has agreed to USD 6 million for submitting deficient submissions that included missing or inaccurate trade data for at least 163 million transactions.

Enforcement

FSS Korea Issues Warning Against Fisheries Cooperatives Federation

24/09/2023

The FSS management cautions and improvement requests to the National Federation of Fisheries Cooperatives for a failed overseas investment.

Market Infrastructure

OCBC Joins LCH SwapClear and HKEX’s OTC Clear

24/09/2023

Direct clearing membership with LCH SwapClear and OTC Clear will help lower costs and enable better hedging tools for investors.

Enforcement

Australia Court Fines NAB $1.3m for Overcharging Customers

23/09/2023

The penalty was the maximum allowed by legislation that existed at the time of the contravening conduct. The court said a penalty “several times” higher would have been more appropriate.