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Capital Adequacy
S. Korea Regulatory Framework for Banks Deemed EU-Equivalent
By Editors | 24/01/2020
EU credit institutions can apply preferential risk weights to relevant exposures to entities located in Korea, effectively reducing the capital requirements associated with such exposures.
Market Abuse
SFC Launches Proceedings Against China Ding Yi Feng Manipulators
By Editors | 23/01/2020
On its first day of trading after a 10-month suspension, China Ding Yi Feng has lost 90% of its value, representing HKD 25 billion in lost market value.
Anti-Money Laundering
Singapore, Brunei Central Banks to Expand Cooperation
By Editors | 23/01/2020
MAS and AMBD have committed to new areas of cooperation, including financial sector development, cross-border supervision, crisis management and AML/CFT.
Market Abuse
CFTC Penalises Australian Firm for Spoofing by Former Trader
By Editors | 23/01/2020
The CFTC has ordered Propex Derivatives to pay $1mn, comprising restitution, disgorgement, and a civil monetary penalty. The DOJ has also entered a deferred prosecution agreement with the firm.
Anti-Money Laundering
What FATF Recommendation 16 Means for the Crypto Industry
By Michael Ou | 22/01/2020
Implementing strict KYC processes to comply with the ‘travel rule’ may be costly, but it is a necessary sacrifice to build a stronger industry in the long-run, says Michael Ou at CoolBitX.
Market Abuse
CSRC Lifts Citadel Securities’ 4-Year Trading Suspension
By Editors | 21/01/2020
Citadel Securities has agreed to pay almost $100mn to settle charges that its algorithmic trading disrupted the market during the 2015 market correction.
Data Privacy
Digital Identities: A Game Changer for Singapore Banking
By Jamie Lloyd Evans | 21/01/2020
Industry veteran Jamie Lloyd Evans discusses the introduction of digital identities in Singapore, and what it could mean for banking.
Credit Risk
RBI Issues Operational Guidance for UCB Large Exposure Reporting
By Editors | 20/01/2020
Large urban cooperative banks have to report exposures over 50mn rupees to a central repository within one month from the end of each quarter.
Market Abuse
MAS Issues First Penalty for Shareholder Disclosure Breach
By Editors | 20/01/2020
An investor was fined S$200,000 for failing to disclose that he had become a substantial shareholder in a Catalist-listed company, and for subsequent disclosure rule breaches.
Supervision & Enforcement
Review Panel Offers Recommendations for Improving SFC Operations
By Editors | 17/01/2020
While welcoming the SFC’s front-loaded regulatory approach, the Process Review Panel says the regulator should be aware of its possible unintended effects and consider ways to minimise them.
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