Securities / Derivatives

AMAC Halts Approvals of New Real Estate Funds

16/08/2021

Private equity funds were among the last of the stable funding channels available to Chinese property developers amid recent regulatory pressure.

Australia to Further Amend Design & Distribution Obligations Law

15/08/2021

The planned changes will make the DDOs law more appropriate for the mortgage broking sector, and clarify that margin lending to corporates is exempt, among other changes.

CBIRC Launches Crackdown on Online Insurance Firms

15/08/2021

The CBIRC has ordered online insurers to conduct self-checks to identify violations, make immediate corrections and hold responsible personnel to account.

Enforcement

Australian Court Orders BOQ to Replace Unfair Contract Terms

15/08/2021

Bank of Queensland has been ordered to replace unfair contract terms in all standard form contracts with small business customers entered into from November 2016.

Crypto / Digital Assets

Poly Network Hackers Return Almost All of Stolen Funds

13/08/2021

Hackers have returned nearly all of the USD 613 million worth of digital tokens stolen on Tuesday, says Poly Network.

Market Infrastructure

ACCC Sees Price Transparency Improvements Among FX Remitters

13/08/2021

The ACCC says 12 of 15 prominent remitters are either adhering to best practice for price disclosure or need to make only minor improvements.

AML / KYC

ICAC Charges Company Director for Fraud, Money Laundering

13/08/2021

The director faces charges for defrauding BOCHK into making L/C payments to a supplier and then laundering the proceeds back to his own company.

Market Infrastructure

DTCC Urges Readiness for MAS Derivatives Reporting Requirements

12/08/2021

Finance companies, subsidiaries of banks in Singapore, insurers and CMS licence holders will come into scope for reporting from 1 October.

Securities / Derivatives

Australia Passes Amendments to Continuous Disclosure Laws

12/08/2021

Companies can provide forward-looking guidance to the market without the fear of class actions if forecasts are found to be inaccurate.