SGX RegCo chief Tan Boon Gin wants to hardcode a whistleblowing policy into the Listing Rules to make compliance mandatory. A consultation will be launched in June.
China Minsheng Bank, China Everbright Bank and Huatai Securities have been fined a combined 52mn yuan for failures in customer identification, transaction reporting and record keeping.
A new CCP12 paper highlights a lack of transparency in the amount of collateral posted in bilateral markets, which is needed to more accurately assess liquidity requirements and latent risks.
The actions being taken to combat the novel coronavirus are reportedly "very close" to those taken in a simulated exercise last October, which involved a pandemic, cyberattack and telecoms breakdown.
The central bank is working on financial aid packages for the sectors directly affected by Covid-19, on top of the 1.9bn won package already announced by the government to aid SMEs and small merchants.
Stock market investment through the credit support package will not count towards the maximum allowed stock market exposure of 25% of capital.
ASIC will be focused on conduct issues involving superannuation trustees, while APRA will be focused on prudential supervision of trustee activities.
The FSC will impose lower penalties than what was recommended by the FSS, citing the two banks’ cooperation and their agreements to compensate clients for damages.
The adviser misrepresented the value of his client’s portfolio on 19 separate occasions, and engaged in trading without proper authority of the client.
The HKMA is inviting tenders for the provision of professional services to help it facilitate the adoption of regtech by the banking industry.