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Trading & Investment
Hong Kong Considers Replacing State Street as TraHK Manager
By Editors | 26/05/2021
Officials reportedly commissioned an independent study to review State Street’s role in managing Hong Kong’s Tracker Fund.
Market Abuse
China: Policymakers Warn Against Commodity Market Speculation
By Editors | 25/05/2021
Regulators will strengthen supervision of commodity futures and the spot market with a “zero tolerance” for illegal activities.
KYC & CDD
HKMA Urges Banks to Use iAM Smart in Remote Onboarding
By Manesh Samtani | 25/05/2021
The HKMA clarifies that when iAM Smart is used for identity verification, record keeping requirements may be met by retaining data obtained via API.
Structural Regulation
G7 Close to Deal on Global Minimum Corporate Tax Rate
By Sanday Chongo Kabange | 24/05/2021
A US Treasury’s proposal to accept a global minimum corporate tax rate of 15% has reportedly been met with enthusiasm in Europe.
Market Abuse
Nomura, UBS, UniCredit Fined for Participating in Trading Cartel
By Editors | 24/05/2021
During Europe’s sovereign debt crisis, the banks shared information about their EGB bidding and trading strategies in Bloomberg terminal chat rooms.
Structural Regulation
S. Korea Revises Law to Strengthen Market Integrity
By Editors | 24/05/2021
The revisions will ease approval processes for financial investment businesses, including foreign firms, while also increasing penalties for stock manipulation.
Anti-Money Laundering
US Treasury Paper Outlines Proposal for New Tax Reporting Regime
By Sanday Chongo Kabange | 24/05/2021
The paper proposes that transfers involving crypto assets worth more than USD 10,000 be reported to the IRS under the new reporting regime.
Anti-Money Laundering
Hong Kong to Bar Retail Investors from Crypto Trading
By Manesh Samtani | 24/05/2021
Hong Kong’s FSTB has issued consultation conclusions on the new licensing regime for VASPs and a new registration regime for precious metals dealers.
Supervision & Enforcement
CBIRC Penalises Five Banks for Regulatory Violations
By Editors | 23/05/2021
Huaxia Bank, China Bohai Bank, Bank of China, China Merchants Bank and Bank of East Asia’s China branch were fined a total $56.9mn.
Anti-Money Laundering
Philippine AMLC to Penalise Firms for Incorrect STR Filings
By Manesh Samtani | 23/05/2021
AMLC Executive Director Mel Georgie Racela told Regulation Asia that incorrect STR filings identified in a recent review will result in supervisory action.
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