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PEPs & Sanctions
US Investors Barred from Buying Stocks Linked to Chinese Military
By Manesh Samtani | 15/11/2020
Index providers will likely be forced to remove companies like China Mobile and China Telecom from key benchmarks by 11 January.
Fraud, Scams & Cybercrime
Ransomware Attacks Present a Growing Threat to FIs: FS-ISAC
By Editors | 15/11/2020
Even with robust cybersecurity programmes, large institutions are vulnerable to attacks through third-party suppliers. Smaller institutions are at even greater risk.
Structural Regulation
ABS Releases Enhanced Listings Due Diligence Guidelines
By Editors | 13/11/2020
The new guidelines emphasise the need for issue managers and full sponsors to “exhibit a healthy dose of professional scepticism” when conducting listings due diligence.
Fraud, Scams & Cybercrime
Korea FSS Seeks to Suspend Former Brokerage CEOs Over Lime Mis-selling
By Editors | 13/11/2020
The FSS has decided to order the suspension of the former CEOs of Shinhan Investment, Daishin Securities and KB Securities over the mis-selling of Lime Asset Management funds.
Trading & Investment
FSC Korea Confirms Plan to Lift Short Selling Ban in March
By Editors | 12/11/2020
The lifting of the ban will apply to all stocks regardless of the market cap, despite an earlier proposal to keep it in place for small-cap stocks.
KYC & CDD
New Opportunities for Banks in Client Onboarding
By Stephan Wolf | 12/11/2020
By adjusting their onboarding processes, FIs can enhance their client experience, reduce costs and pave the way for new cross border services, explains GLEIF CEO Stephan Wolf.
Fraud, Scams & Cybercrime
Korea FSS Estimates Optimus Fund Losses Could Reach $300m
By Editors | 11/11/2020
The FSS has estimated that 160bn won of investor funds has vanished and only up to 15% of the remaining 350bn won could be recoverable.
Anti-Money Laundering
Philippine Authorities Probe Financial Transactions Linked to Wirecard
By Sanday Chongo Kabange | 11/11/2020
The National Bureau of Investigation is examining the financial transactions of a law firm office that appears to have provided legal services to Wirecard and Jan Marsalek.
Structural Regulation
China Launches First New Domestic Securities Firm in Ten Years
By Editors | 11/11/2020
The company was set up to take over the securities-related assets of CEFC Shanghai Securities, whose licenses were revoked last year.
KYC & CDD
MAS Proposes to Strengthen FIs’ Identity Verification Process
By Editors | 10/11/2020
The proposed Notice will prohibit FIs from relying on common personal information such as NRIC number, residential address and date of birth as the sole means of identity verification.
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