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Conduct, Culture & Accountability
FSS Reprimands Woori, Hana Chiefs for Derivatives Mis-Selling
By Editors | 31/01/2020
The FSS is also recommending a 20-billion-won penalty be imposed on both banks, and for some of their operations to be suspended for six months.
Structural Regulation
HKEX Names Two Global Banks in Failed IPO Application
By Editors | 31/01/2020
Sponsored by Morgan Stanley and JP Morgan Securities, the listing of Chinese biotech firm Akeso was rejected due to a typo in the date in a listing application document.
Structural Regulation
Japan to Launch New Benchmark Interest Rate by Mid 2021 – Report
By Editors | 31/01/2020
From around Q2 this year, ‘reference rates’ for the new benchmark will be released as a first step, which will not be used for actual transactions.
Trading & Investment
Buy-side Adoption of FX Global Code Lagging: BIS
By Editors | 31/01/2020
More needs to be done to bolster buy-side adoption of the FX Global Code, says MAS deputy managing director Jacqueline Loh, who also chairs the BIS Markets Committee.
Structural Regulation
FCA Issues Guidance on Brexit Transition Period
By Manesh Samtani | 31/01/2020
During the 11-month transition period, EU law will continue to apply in the UK, including passporting arrangements and consumer rights protections.
Structural Regulation
HK Listed Companies May Miss Earnings Deadline – Reports
By Editors | 31/01/2020
The HKICPA has met with HKEX to propose extending a 31 March filing deadline for China-based companies listed in Hong Kong affected by coronavirus-related travelling restrictions.
Structural Regulation
RBNZ Endorses Official Cash Rate as Fallback Benchmark
By Editors | 31/01/2020
New Zealand will operate a dual interest rate benchmark system, retaining the Bank Bill Benchmark Rate and using the OCR as its fallback.
Liquidity Risk
Chinese Regulators Announce Coronavirus Support Measures
By Manesh Samtani | 30/01/2020
PBOC has extended the Lunar New Year closure of financial markets until 3 February and vowed to inject liquidity into the markets when they reopen.
Conduct, Culture & Accountability
SFC Suspends RHB Securities AE for Unauthorised Discretionary Trades
By Editors | 30/01/2020
The account executive conducted discretionary trades for a client account for almost two years without obtaining written authorisation.
Supervision & Enforcement
ASIC Bans Adviser for Bad Investment Recommendation
By Editors | 29/01/2020
A former adviser of NAB-owned Godfrey Pembroke failed to act in his clients’ best interests by recommending they invest in a mobile payments start-up that later failed.
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