UOB Kay Hian Redesignates Director After SGX RegCo Queries

18/10/2023

SGX RegCo questioned the director’s independence given his substantial shareholding in UOB Kay Hian and long association with the company.

Enforcement

Japan FSA Orders Report Explaining Zengin-Net Outage

18/10/2023

Zengin-Net has to produce a report explaining last week’s outage and measures taken to prevent a recurrence.

HKMA Takes Issue With Rate Setting Practices in Premium Financing

17/10/2023

Some AIs changed the interest rates they charged for premium financing facilities without ensuring customers knew such changes were possible.

Japan Considers New Law to Ease Loan Access for Small Businesses

17/10/2023

The proposed law would allow startups and other SMEs to obtain loans based on intangible assets such as their technological capabilities or customer base.

Fintech / Regtech

FSC Korea Forms New “Financial Safety Department”

16/10/2023

The new department will be dedicated to enhancing financial security and information protection in digital finance.

Big Picture

REITs Connectivity Will Boost Mainland and Hong Kong: HKEX

13/10/2023

Expanding market connectivity to include REITs will increase Hong Kong’s attractiveness and promote the internationalisation of the Mainland capital market.

Enforcement

Korea FSS Vows to Punish Daegu Bank for Opening Fake Accounts

13/10/2023

FSS inspections found that 1,662 securities accounts were illegally opened by 114 employees across 56 Daegu Bank branches.

AML / KYC

HK ICAC Hosts First Belt & Road Anti-Corruption Training

13/10/2023

The ICAC said it is contributing to building a “Clean Silk Road” by providing anti-corruption training to Belt and Road countries.

Enforcement

FSS Korea Strengthens Capital Markets Inspection System   

11/10/2023

Market participants that engage in illicit conduct will face immediate deregistration or licence revocation for even a single offence.