Markets & Infrastructure

Conduct, Culture & Accountability

ASIC Directs Investment Funds to Correct False Advertising

By Editors | 16/06/2020

Investment funds were falsely being promoted as having little or no risk of capital loss, where higher returns were highlighted without adequate disclosures of risk.

Payments & Settlements

MUFG Bank Secures China Interbank Bond Market Licence

By Editors | 16/06/2020

MUFG Bank’s wholly-owned China subsidiary has become the first Japanese bank – and the eight foreign bank overall – to win a Bond Settlement Agent licence.

Structural Regulation

CSRC to Ease Rules for Major Shareholders of Securities Firms

By Editors | 16/06/2020

The profitability, net assets and experience requirements will be relaxed for major shareholders of securities companies.

Structural Regulation

Best Practice for Tackling Shareholder Disclosure Rules

By Daniel Flatt | 16/06/2020

As regulators seek ways to protect domestic assets during this economic downturn, experts from Deloitte, BlackRock and AxiomSL outlined common-sense advice on how to handle rapid regulatory change.

Conduct, Culture & Accountability

ASIC Imposes Licence Conditions on Societe Generale Securities

By Editors | 16/06/2020

Societe Generale Securities Australia self-reported to ASIC that it deposited client money into unauthorised bank accounts.

Clearing & Post-Trade

HKEX’s OTC Clear Introduces Client Clearing Services

By Editors | 15/06/2020

Market participants who are not themselves clearing members of OTC Clear can gain access to the benefits of central clearing through existing clearing members.

Alternative Markets

HKMA to Select Managers for New Growth Portfolio by H2 – Report

By Editors | 15/06/2020

The sovereign growth portfolio will invest in Hong Kong-specific projects, aimed at lifting the city’s competitiveness in financial services, commerce, aviation, logistics and innovation.

Supervision & Enforcement

ASIC Expects Higher Industry Levies for 2019-20

By Editors | 15/06/2020

The two biggest levy components are enforcement and surveillance which are 27% and 47% higher year-on-year, respectively.

Fraud, Scams & Cybercrime

India Proposes to Decriminalise Bounced Cheques

By Editors | 15/06/2020

Currently in India, bounced cheques can carry a jail sentence of up to two years and a fine up to twice the value of the cheque, or both.