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PEPs & Sanctions
US Sanctions Four More Officials Over Hong Kong National Security Law
By Sanday Chongo Kabange | 10/11/2020
China’s Foreign Ministry says the move is a violation of the basic norms governing international relations, urging the US to withdraw the sanctions.
Supervision & Enforcement
SFC Fines Credit Suisse Securities Over Market Making Errors
By Editors | 09/11/2020
Credit Suisse Securities submitted 17,000 erroneous market making quotes to the market in 8 minutes due to a logic error in its symbol mapping programme.
PEPs & Sanctions
SFC Eases Uncertainty Over National Security Law – Report
By Editors | 09/11/2020
Implementing US sanctions is unlikely to be considered a breach of the national security law. The SFC has dropped a plan to force cloud providers to share client data.
Anti-Money Laundering
AUSTRAC to Ramp Up Industry Guidance on AML Obligations
By Manesh Samtani | 09/11/2020
An unprecedented amount of AML/CTF information will be provided to industry in the next 6-12 months, says AUSTRAC’s David Hawkins.
Anti-Money Laundering
Hong Kong Lawmaker to Propose Bill to Combat Illegal Wildlife Trade
By Editors | 09/11/2020
The bill will seek to incorporate wildlife crimes into Hong Kong’s Organised and Serious Crimes Ordinance, allowing authorities to follow the money and prosecute syndicate leaders.
Anti-Bribery & Corruption
Second Ex-Chairman of Hengfeng Bank Gets Death Sentence
By Editors | 08/11/2020
The former chairman will have his sentence commuted to life in prison if he commits no further crime over the next two years.
Market Abuse
SC Malaysia Wins MYR 3.1m in Insider Trading Case
By Sanday Chongo Kabange | 05/11/2020
The former senior partner of a law firm acquired shares in Worldwide Holdings in the months leading up to an announcement that the firm would be privatised.
Payments & Settlements
Australian FIs to Use NPP for International Payments by End-2022
By Editors | 05/11/2020
Participating FIs are required to join the international payments business service and receive inbound international payments via the NPP by December 2022.
Market Abuse
MAS Targets Market Abuse, Misconduct, AML Control Breaches
By Editors | 04/11/2020
In its latest enforcement report, MAS highlights its work to strengthen early detection of market misconduct, including through Apollo, an augmented intelligence system.
Anti-Money Laundering
FSC Korea to Introduce FATF-aligned AML Rules for VASPs
By Editors | 04/11/2020
Under the new rules, the ‘travel rule’ will apply to VASPs in respect of all virtual asset transactions worth more than KRW 1 million.
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