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Trading & Investment
Singapore Has No Plans to Restrict Retail Investment in SPACs
By Darien Choong | 20/02/2022
Regulatory safeguards and educational efforts mounted by SGX should provide “adequate protection for retail investors and enable them to assess the risk-return trade-offs”.
Conduct, Culture & Accountability
BSP Eases Confirmation Process for Bank Directors, Officers
By Editors | 20/02/2022
The amendments aim to limit the coverage of officers requiring confirmation for appointment and to streamline documentary requirements.
Fraud, Scams & Cybercrime
FSC Korea Fines IBK and Fund Manager Over Mis-sold Funds
By Editors | 20/02/2022
Industrial Bank of Korea also has to suspend its private fund sales operations for 1 month. Discovery Asset Management and its CEO are suspended for 3 months.
Payments & Settlements
Sri Lanka Launches National Remittance Mobile App
By Duruthu E Chandrasekera | 20/02/2022
The new mobile app is expected to lower the cost of inward remittances by foreign workers and reduce the use of black market channels.
Operational Risk
FSA Issues Business Improvement Order to Mizuho, Again
By Editors | 18/02/2022
The business improvement order requires Mizuho and its parent to report to the FSA about the cause of another system failure which halted ATM operations on 11 February.
Payments & Settlements
Bangladesh Revises Rules on Mobile Financial Services
By Sanday Chongo Kabange | 17/02/2022
The revised regulations allow financial institutions other than banks, as well as government entities, to provide mobile financial services.
Payments & Settlements
Indonesia Advances Local Currency Use in Cross-border Settlement
By Editors | 17/02/2022
Domestic banks will be able to access other Asian currencies via cross-currency repo and other collateralised transactions with Bank Indonesia.
Market Abuse
US Agencies Probe Block Trading Practices at Banks, Hedge Funds
By Editors | 17/02/2022
The DOJ and SEC are reportedly examining whether banks may have improperly alerted hedge funds ahead of market-moving block trades.
Conduct, Culture & Accountability
Splitting Chairman, MD, CEO Roles No Longer Mandatory: SEBI
By Sanday Chongo Kabange | 17/02/2022
Only 54 percent of the listed companies in scope had complied with the rule as of end-2021, so it will instead become voluntary.
Structural Regulation
HK SPAC Regime Threatened by Lack of D&O Insurance – Report
By Editors | 17/02/2022
Few insurers in Hong Kong provide liability insurance for directors and officers of SPACs. Those that do charge premiums up to five times higher than for traditional IPOs.
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