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Conduct, Culture & Accountability
FSC Korea to Lower Derivatives Mis-selling Fines for Woori, KEB Hana
By Editors | 17/02/2020
The FSC will impose lower penalties than what was recommended by the FSS, citing the two banks’ cooperation and their agreements to compensate clients for damages.
Fraud, Scams & Cybercrime
ASIC Imposes Lifetime Ban on Macquarie Equities Adviser
By Editors | 17/02/2020
The adviser misrepresented the value of his client’s portfolio on 19 separate occasions, and engaged in trading without proper authority of the client.
Conduct, Culture & Accountability
MAS Issues Guidance on Investment Suitability, Pricing in Private Banking
By Editors | 17/02/2020
MAS looks to private banks’ boards and senior management to ensure the effectiveness of policies, processes, controls and systems in sales and advisory practices, and to shape the staff behaviour.
Market Abuse
SEBI Introduces New System to Detect Broker Misuse of Client Securities
By Editors | 17/02/2020
An online register will record brokers’ holdings of client securities, clubbing all such information collected by exchanges, depositories and clearing corporations for all types of trades.
Data Privacy
S. Korea FSC to Educate Market New Data Usage Rules
By Editors | 17/02/2020
Pseudonymised personal information may be used without customer consent for statistical, industry research and public documentation purposes.
Supervision & Enforcement
HK SFC Fines Wealth Manager for Noncompliance with Taiwan Laws
By Editors | 17/02/2020
Capital Global Management Limited was distributing offshore investment funds and offering investment advice in Taiwan despite not being authorised by Taiwan’s regulator.
Structural Regulation
CSRC Loosens Rules on New Fundraising by Listed Firms
By Editors | 15/02/2020
The CSRC has relaxed pricing and lock-up restrictions to incentivise listed companies to raise new funding from strategic investors through non-public offerings.
Trading & Investment
Korea to Strengthen Regulatory Framework for Hedge Funds
By Manesh Samtani | 15/02/2020
The FSC will cap illiquid investments at 50% for open-ended funds, require them to conduct regular stress tests, raise transparency of complex fund structures, and enhance supervisory monitoring.
Payments & Settlements
Vietnam Scraps Proposed Foreign Ownership Cap for Payments Firms
By Editors | 14/02/2020
The SBV says the 49% foreign ownership limit proposed last November would hamper foreign investment in payments and fintech, and present difficulties for existing players.
Structural Regulation
BOT Prepares Guidance for Banks on Service Fee Calculations
By Editors | 14/02/2020
The guidance will cover fees for corporate, SME and retail banking customers, as part of a broader push for fairer fee structures.
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