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Market Abuse
SFC Bans Former China Rise CEO for Naked Short Selling
By Editors | 01/04/2020
The ex-CEO was banned for 28 months for placing – and concealing – uncovered short selling orders through his personal account and a client’s discretionary account in 2014.
Structural Regulation
SEBI Extends Implementation Timelines on Key Market Reforms
By Editors | 31/03/2020
The new stewardship code for mutual funds is deferred three months. Portfolio managers, AIFs, and VC funds have two more months to comply with new disclosure requirements.
KYC & CDD
RBNZ, FMA Offer AML/CFT Guidance During Covid-19 Lockdown
By Editors | 30/03/2020
Under Alert Level 4, reporting entities have the discretion to not necessarily sight certain documents for ongoing CDD and account monitoring.
Credit Risk
China to Enhance Oversight of National Bad Debt Managers
By Editors | 27/03/2020
The reforms are said to be in part aimed at shielding the Ministry of Finance from risk. The Ministry is the largest shareholder of each of the national AMCs.
Market Abuse
Singapore: Four Individuals Charged for Illegal Trading
By Editors | 26/03/2020
An investor used share financing facilities from two banks and third-party trading accounts procured by three brokers to manipulate the price of Sky One Holdings shares.
Anti-Money Laundering
Myanmar Central Bank Revokes Licence of Local Bank
By Editors | 26/03/2020
An investigation that started in 2017 found irregularities with the funding Asia Yangon Bank planned to use to meet its paid-up capital requirements.
Anti-Bribery & Corruption
ICAC Charges Ex-HKEX Official for Bribery, Misconduct
By Editors | 25/03/2020
A former joint-head of HKEX’s IPO Vetting Team has been charged over HK$9.15mn in bribes and misconduct in public office between June 2017 and April 2019.
KYC & CDD
Holding the Line on Ultimate Beneficial Ownership
By Manesh Samtani | 24/03/2020
Financial institutions need to ensure that UBO information on customers is complete and accurate, but this is only half the battle, says Refinitiv’s Phillip Malcolm.
Fraud, Scams & Cybercrime
SFC Imposes Lifetime Ban on Former China Pacific Securities Broker
By Editors | 24/03/2020
The former broker was convicted and jailed in December 2018 for stealing over HK$110mn in shares from China Pacific’s clients over a seven-year period.
KYC & CDD
Moving to a Continuous KYC Process
By Greg Watson | 23/03/2020
Greg Watson discusses how to streamline KYC reviews and move from regular 1-3-5 year reviews to perpetual KYC, managed-by-exception.
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