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Market Abuse
HKEX Issues Northbound Stock Connect Market Misconduct Guidelines
By Editors | 22/01/2018
Information pack shows only one divergence between what is considered misconduct in mainland China versus Hong Kong.
Anti-Money Laundering
US Fed Fines Taiwanese Bank $29mn for AML Failures
By Editors | 19/01/2018
US Federal Reserve Board cites deficiencies in Mega Bank’s operations, risk management and compliance controls in relation to AML and bank secrecy laws.
Credit Risk
Vietnamese Banks Warned Against High-Risk Lending
By Editors | 19/01/2018
Central bank warning comes as prime minister asks for increased inspection and supervision over banks.
Supervision & Enforcement
Hong Kong SFC Looks to Optimise Enforcement Action
By Editors | 18/01/2018
New guidance removes threat of criminal prosecution in cases of “non-serious” regulatory breaches and cooperation ‘above and beyond’ regulatory obligations.
KYC & CDD
MAS to End Pre-Approval Requirement for Non-Face-to-Face KYC
By Samuel Riding | 17/01/2018
Regulator says money changers, remittance firms don’t need pre-approval for video-onboarding and other tech, but must have non-face-to-face procedures audited.
Anti-Money Laundering
Singapore Activates 61 AEOI Relationships for 2018
By Editors | 17/01/2018
The country will automatically exchange tax information from January 2017 with 61 countries under the OECD’s Common Reporting Standards.
Anti-Money Laundering
SFC Urges Licensees to File “Better Quality” Suspicious Transaction Reports
By Editors | 17/01/2018
Circular sent to firms following a feedback report issued by the Joint Financial Intelligence Unit.
Cryptocurrency
UPDATED – Korea to Implement ID System for Crypto Traders
By Manesh Samtani | 17/01/2018
Plan includes penalties for noncompliance, rooting out of foreign investors and minors, but no trading ban in the short term.
Fraud, Scams & Cybercrime
UPDATED – PwC Gets 2-Year Ban from Auditing Listed Firms in India
By Garima Chitkara | 15/01/2018
Ban relates to accounting fraud at software exporter Satyam Computer Services, where PwC was auditor.
Market Abuse
The Return of ‘Super Alpha’ and Regulatory Arbitrage
By Peter Guy | 15/01/2018
The return of SAC Capital’s founder with a new venture reveals the complicated ethics of a post financial crisis world.
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