Enforcement
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1MDB Saga Rumbles on in Singapore with Bans for Ex-Maybank, NRA Capital Staff
Editors, Regulation Asia November 2, 2017Individuals banned for six years after conviction for 1MDB-related bribe; former representative of BSI Bank faces lifetime ban.
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Korea Introduces ‘Sarbanes Oxley’ in Response to Accounting Scandals
Samuel Riding, Regulation Asia November 2, 2017Move is part of President Moon Jae-in’s Chaebol clean-up campaign, follows proposal to make agencies liable for ‘defective ratings’.
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HK SFC Launches Thematic Review of Prime Brokerage, Equity Derivatives
Editors, Regulation Asia November 1, 2017Regulator says prime brokerage a growing revenue stream for institutions as Hong Kong’s asset management, hedge fund sectors expand.
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RBI Confirms ID-Bank Account Link Compulsory, to Create Public Credit Registry
Editors, Regulation Asia October 25, 2017Central bank says Aadhar cards must be linked to bank account; proposed credit registry to be open to ‘all stakeholders’.
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ASIC to Seek 10-year Sentences for Corporate Criminals
Editors, Regulation Asia October 25, 2017Securities regulator says current maximum punishments are not sufficient as they don’t wipe out gains made from illicit activity.
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China Turns Local Governments into Regulatory Enforcers
Editors, Regulation Asia October 23, 2017PBOC governor says regulatory agencies not properly coordinated, reiterates concern about bad debt as China transforms into market economy.
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New Zealand Exempts Personalised Robo-advice from Licensing Regime
Editors, Regulation Asia October 19, 2017Providers still need to be pre-approved to offer financial advice; new rules formalising licensing of robo-advice per se expected in 2019.
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India Releases Draft Rules for Electronic Trading Platforms
Editors, Regulation Asia October 16, 2017Move comes as National Stock Exchange bids to end case of alleged unfair access via its co-location facility by offering to pay fine.
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HK SFC Investigating 15 IPO Sponsors for ‘Substandard’ Work
Samuel Riding, Regulation Asia October 12, 2017Head of enforcement says the IPO sponsors may have failed to verify data, opening the door to fraud by the listing companies.
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Hong Kong-China to Share Stock Connect Broker, Trader Names
Editors, Regulation Asia October 11, 2017SFC chief says move will enhance market transparency and surveillance, and improve efficiency in cracking down on malpractice.
