Under the coordinated resolution, Goldman will pay $606mn in disgorgement and more than $2.3bn in penalties to authorities in the US, UK, Hong Kong and Singapore.
The two consultants allegedly schemed a plot to market, distribute and sell unit trust funds while they served as registered consultants of different entities.
Goldman Sachs Group has reportedly reached a more than $2bn settlement with the US DOJ over its role in Malaysia’s 1MDB scandal.
The new policy will encourage informed participation in stocks and bonds, while also protecting investors against bad investment choices.
Hong Leong has become the first Malaysia bank to launch “fully digital” account opening, just three months after BNM’s new e-KYC guidelines took effect.
The SC highlighted a "considerable increase" in investor participation in markets via digital investment managers, ECF and P2P platforms, digital asset exchanges and online brokers.
Banks which elect to apply the transitional arrangements are allowed to add back a portion of Stage 1 and Stage 2 provisions for ECL to CET1 capital.
The temporary margin financing relief measures due to expire on 30 September will be extended to 31 December 2020.
The USD 100 million trade was the first MYR - USD cross-currency transaction referencing the USD SOFR, which will replace USD LIBOR.
The revised contract will enhance risk management at FIs and allow them to hedge interest rate risks, while also providing new trading opportunities for other market participants.
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