ADVERTISEMENT
KYC & CDD
Wolfsberg Group Issues Guidance on SoW, SoF Checks
By Editors | 09/08/2020
The guidance outlines instances where Source of Wealth and Source of Funds information may need to be independently corroborated, and what to do if relevant standards are not met.
Structural Regulation
US Regulators Unveil Plan to Deal With Chinese Listings
By Editors | 08/08/2020
A presidential working group which includes the chairmen of the SEC, CFTC and Fed has recommended changes to US listing rules to require access to companies’ audit papers.
PEPs & Sanctions
US Sanctions 11 Chinese, Hong Kong Officials
By Manesh Samtani | 08/08/2020
The HKMA says unilateral sanctions imposed by foreign governments have “no legal status” in Hong Kong and banks should endeavour to treat customers fairly.
Fraud, Scams & Cybercrime
Singapore Authorities Issue First Charges in Wirecard Probe
By Editors | 08/08/2020
A director of Citadelle Corporate Services is said to have “wilfully and with intent to defraud” stated false balances held in escrow on behalf of Wirecard in 2016 and 2017.
Cybersecurity
HKMA, IA Issue Guidance on Video Distribution of Insurance Products
By Editors | 07/08/2020
Insurers and intermediaries such as banks have to apply to enter the InsurTech Sandbox to test the use of video conferencing to distribute long term insurance policies.
Market Abuse
China Paves Way for Class Actions in Securities Disputes
By Lucy Zhang | 07/08/2020
New regulations issued by China’s Supreme Court provide channels for small and medium investors to pursue joint litigation in securities disputes.
Market Abuse
CEO Faces 112 Charges of Market Rigging in Singapore
By Editors | 06/08/2020
CEO and chairman of SGX-listed KS Energy is alleged to have engaged in conduct to push up his company’s stock and create a misleading appearance of its price.
Resolution & Recovery
PBOC to Authorise Bankruptcy Filing of Baoshang Bank
By Editors | 06/08/2020
The decision was made based on “severe insolvency” found at Baoshang Bank. The last commercial bank allowed to go bankrupt in China was in 2001.
Cybersecurity
Australia Unveils Cyber Security Strategy for 2020
By Editors | 06/08/2020
Law enforcement will receive funding to bolster its ability to go after cyber criminals, complemented by the use of AUSTRAC’s financial intelligence expertise to target their profits.
Conduct, Culture & Accountability
SGX RegCo to Enhance Enforcement, Whistleblowing Frameworks
By Manesh Samtani | 06/08/2020
The proposed enforcement framework will seek to achieve swifter outcomes from the disciplinary process. Whistleblowing policies will become mandatory for listed issuers.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.