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.
MAS looks to private banks’ boards and senior management to ensure the effectiveness of policies, processes, controls and systems in sales and advisory practices, and to shape the staff behaviour.
An online register will record brokers’ holdings of client securities, clubbing all such information collected by exchanges, depositories and clearing corporations for all types of trades.
Pseudonymised personal information may be used without customer consent for statistical, industry research and public documentation purposes.
Capital Global Management Limited was distributing offshore investment funds and offering investment advice in Taiwan despite not being authorised by Taiwan's regulator.