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Enforcement
SFC Fines Sincere Securities for Internal Control Failings
By Editors | 16/08/2019
The SFC and an independent reviewer identified deficiencies across 14 areas of Sincere Securities’ business operations and internal controls, resulting in a fine of HK$5mn.
Securities / Derivatives
Shanghai to Allow Multinational Firm Employees to Trade A-Shares
By Editors | 15/08/2019
The initiative is aimed at encouraging more multinational companies to set up their regional headquarters in Shanghai, which seeks status as a global financial centre.
Market Infrastructure
APRA Consults on Adjusted Schedule for Initial Margin Rules
By Editors | 15/08/2019
APRA is consulting on changes to the implementation schedule for initial margin requirements in Australia, in line with the one-year phased extension granted by BCBS and IOSCO last month.
Securities / Derivatives
Bursa Malaysia Revamps Rules for Derivatives Market Participants
By Editors | 15/08/2019
The updated rules allow non-face-to-face onboarding, remove voice logging for client orders, and introduce higher governance standards, among others.
Market Infrastructure
Myanmar to Set Up Alternative Market for Unlisted Companies
By Editors | 14/08/2019
The so-called ‘Myanmar Public Companies Board’ will serve as a stepping stone for domestic companies to list on the YSX, which still lists only 5 companies.
Enforcement
FSS Korea to Probe Major Banks for Mis-sold Financial Products
By Editors | 14/08/2019
Woori, KEB Hana and Shinhan are subject to the FSS investigation for selling high-risk private equity investment products and derivative-linked securities.
Securities / Derivatives
Korea Eases Criteria for Professional Investor Registration
By Editors | 14/08/2019
The move is expected to increase the pool of professional investors from under 2000 to over 370,000. A new trading venue for unlisted equity securities is also planned.
Securities / Derivatives
Koscom to Develop New Platform for Trading Unlisted Securities
By Editors | 13/08/2019
The project, approved under the FSC’s sandbox programme, will also involve KEB Hana Bank, Hana Financial Investment and Amicus Lex, among others.
ESG / Sustainability
ASIC Updates Guidance on Climate Risk Disclosures
By Editors | 13/08/2019
The new guidance describes climate change as a “systemic risk that could have a material impact on the future financial position, performance or prospects of entities”.
Securities / Derivatives
TOCOM Electricity Futures Approved for 17 September Launch
By Editors | 13/08/2019
The Tokyo Commodity Exchange has been granted approval to list electricity futures, after applying for a trial listing in March.
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