Enforcement
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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.
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China Banking Regulator Doubles Down, Again, on Systemic Risk
Editors, Regulation Asia October 11, 2017CBRC says failure of regulators to identify risks amounts to ‘dereliction of duty’; urges lenders to sort out non-performing loans.
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Official Media Confirms China Bitcoin Ban Only Temporary
Editors, Regulation Asia October 9, 2017Xinhua says authorities will introduce a licensing programme and stricter AML rules for cryptocurrency exchanges; ICOs also to become regulated.
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Malaysian Central Bank to ‘Name and Shame’ Rulebreakers
Editors, Regulation Asia October 9, 2017Bank Negara Malaysia governor says it has shared the names of more than 400 individuals with banks in the country over the past three months.
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Standard Chartered Guernsey-Singapore Transfers Under Investigation
Editors, Regulation Asia October 9, 2017Authorities suggest bank may have conducted $1.4bn of transfers to Singapore to avoid being caught under Common Reporting Standard.
