Financial Crime

Market Abuse

Vietnam’s SSC to Beef up Handling of Stock Market Violations

By Editors | 25/01/2019

The SSC is coordinating with Vietnam’s Ministry of Public Securities to ensure violators face criminal charges in addition to the existing administrative sanctioning regime.

Anti-Money Laundering

China to Strengthen Compliance Management at Overseas Bank Branches

By Editors | 24/01/2019

CBIRC guidelines require Chinese banks to strengthen compliance management at overseas branches in relation to AML/CTF, tax evasion, sanctions, consumer protection and cybersecurity.

Conduct, Culture & Accountability

Australian Regulators Under Scrutiny for Accepting Industry Gifts

By Garima Chitkara | 23/01/2019

ASIC was reportedly found to have accepted expensive gifts and hospitality from financial firms including Macquarie Bank even as it was under multiple investigations by the corporate regulator.

Market Abuse

S. Korean Regulator Fines Four Global Banks for Rigging FX Derivatives

By Editors | 22/01/2019

South Korea’s Fair Trade Commission has fined JP Morgan, HSBC, Deutsche Bank and StanChart a combined $613,000 for rigging forex derivative prices.

Supervision & Enforcement

ASIC Officials Fear Excessive Focus on Litigation – Report

By Editors | 21/01/2019

While ASIC officials talk up plans to fund more court cases, behind the scenes they are reportedly concerned about the community backlash and loss of confidence if cases are lost.

Structural Regulation

India Liberalises Framework for Overseas Borrowing

By Editors | 17/01/2019

Eligible domestic borrowers can borrow up to $750mn per year in foreign currency or rupees from any entity in a country which is FATF or IOSCO compliant.

Anti-Money Laundering

China’s NIFA Launches AML/CTF Monitoring Platform for Online FIs

By Editors | 16/01/2019

Online financial institutions including those engaged in online lending, equity crowdfunding, fund sales and consumer finance are required to register on the platform by 31 January.

Market Abuse

FMSB Issues Good Practices for Suspicious Transaction, Order Reporting

By Editors | 15/01/2019

The FICC Markets Standards Board has published the final version of its Statement of Good Practice on suspicious transaction and order reporting.

Payments & Settlements

Singapore Parliament Passes Payment Services Act

By Editors | 15/01/2019

The law represents a framework to streamline payment services regulation in Singapore under a single legislation and bring payment activities under the remit of the MAS.