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Market Abuse
FSC Korea Unveils Additional Measures to Curb Illegal Short Selling
By Editors | 21/12/2020
The FSC will place new restrictions on market makers, revamp the rebate system, and set up a new monitoring system to detect illegal short selling activity.
Structural Regulation
China Seeks to Improve Market Quality with New Delisting Rules
By Editors | 21/12/2020
Companies will be automatically delisted if their shares close below 1 yuan, or their market value remains below 300mn yuan, for 20 consecutive trading days.
Supervision & Enforcement
US SEC Penalises Robinhood $65m for Misleading Customers
By Sanday Chongo Kabange | 21/12/2020
The SEC said Robinhood misled customers into believing trading was commission free, while it executed customers’ orders at inferior trade prices costing them $34mn.
Supervision & Enforcement
APRA Intensifies Scrutiny of Underperforming Super Funds
By Editors | 21/12/2020
APRA will issue notices requiring eight trustees to provide information on the actions being taken to address underperformance. Formal enforcement powers may be used “where appropriate”.
Credit Risk
CBIRC Grants Launch Approval to New National Bad Debt Manager
By Editors | 21/12/2020
China Galaxy Asset Management will receive its licence within ten days, and proceed with the necessary procedures to open for business in early 2021.
Fraud, Scams & Cybercrime
Taiwan to Lower Payment Thresholds for Customer Notification
By Editors | 21/12/2020
The move is aimed at combatting rising financial fraud as consumers increasingly prefer e-payments over the use of credit cards.
Anti-Bribery & Corruption
Intermediaries Should Lay Down Anti-bribery Policies: SFC
By Editors | 21/12/2020
Intermediaries should draw reference from the sample code of conduct issued by the ICAC and provide appropriate training to directors, staff members and agents.
PEPs & Sanctions
ISDA Offers Guidance on Addressing Sanctions in Trading Agreements
By Editors | 20/12/2020
The guidance note helps parties consider whether it may be appropriate to include specific sanctions provisions in ISDA documentation.
Supervision & Enforcement
Taiwan Addresses Bank Misconduct With Higher Penalties: Fitch
By Editors | 17/12/2020
Banks are expected to work to strengthen their risk controls, particularly around wealth management to avoid penalties and preserve their corporate governance rankings.
Anti-Money Laundering
FATF Warns of Continued Criminal Exploitation of Covid-19
By Manesh Samtani | 17/12/2020
The effective use of technology to support onboarding and ensure effective information sharing has become even more important, the FATF says.
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