Resolution & Recovery

Australia: Xinja Bank Completes Return of Customer Deposits

19/01/2021

Australian neobank Xinja announced in December that would be exiting the market, just 15 months after receiving its licence.

Reporting & Disclosures

Thailand SEC Declares Support for TCFD, Enhanced ESG Disclosures

18/01/2021

The move will lead to better disclosure of ESG information in the capital market, including information related to greenhouse gas emissions.

Liquidity Risk

Korea Announces Additional Support to Covid-19 Hit Businesses

18/01/2021

The funding support includes additional support for small merchants, a new special lending programme, and additional funding for distressed asset manager KAMCO.

Market Abuse

FSC Korea Prepares to Lift Ban on Illegal Short Selling

16/01/2021

The FSC has revised the FSCMA enforcement decree as part of efforts to strengthen penalties for illegal short selling, as it prepares to lift a ban on short selling in March.

Trading & Investment

China to Accelerate Development of Domestic Derivatives Market

22/12/2020

China’s financial futures and options market “far lags” market participants’ growing needs to manage their risks, said CSRC vice chairman Fang Xinghai.

Supervision & Enforcement

US SEC Penalises Robinhood $65m for Misleading Customers

21/12/2020

The SEC said Robinhood misled customers into believing trading was commission free, while it executed customers’ orders at inferior trade prices costing them $34mn.

Structural Regulation

SEBI Consults on New Rules for Index Providers

15/12/2020

SEBI proposes rules for index providers that conform to IOSCO requirements, to align India’s practices with those observed in foreign jurisdictions.

Supervision & Enforcement

ASIC Sues Three Firms For Illicitly Offering FX Margin Trading

15/12/2020

ASIC alleges Union Standard provided trading in margin FX products to clients in China in circumstances where it was illegal for Chinese residents to deal or trade in those products.

Anti-Money Laundering

AUSTRAC Releases Risk Assessment of Junket Tour Operators

15/12/2020

AUSTRAC expects casinos to use the risk assessment to protect their businesses and communities from criminal threats such as money laundering.