United States

Enforcement

Global Regulators Heighten Scrutiny Over ESG Mislabelling – Reports

By Sanday Chongo Kabange | 09/09/2021

Increased scrutiny from US, EU and UK regulators have forced asset managers to review current practices for classifying funds as ESG-focused.

Market Infrastructure

Sri Lanka Passes New SEC Act to Bolster Capital Market

By Duruthu E Chandrasekera | 09/09/2021

SEC chairman Viraj Dayaratna described the new law as “futuristic”, saying it will help to increase market liquidity and attract foreign investment.

Enforcement

BaFin Joins US SEC, DOJ in Probing Collapsed Allianz Funds

By Ranamita Chakraborty | 07/09/2021

Allianz is facing probes from BaFin, SEC and DOJ, as well as 25 investor lawsuits, over last year’s collapse of its Structured Alpha Funds.

Securities / Derivatives

Thai SEC Proposes to Streamline Bond Issuance Regulations

By Pongnut Thanaboonchai | 07/09/2021

Under the amendments, debt instruments must be issued within 6 months from the date the filing is approved, the SEC said.

ESG / Sustainability

Philippine SEC to Make Sustainability Reporting Mandatory

By Editors | 06/09/2021

Publicly listed companies will be required to submit sustainability reports separate from their annual reports from 2023.

Crypto / Digital Assets

US SEC Charges BitConnect for $2bn Cryptocurrency Fraud

By Editors | 06/09/2021

BitConnect promised investors lucrative returns through the use of a proprietary trading bot, but investor funds were siphoned off by the company’s founder and others.

AML / KYC

OFAC Fines Bank of China UK for Sudan Sanctions Breach

By Editors | 01/09/2021

BOC UK’s internal customer database did not include reference to Sudan in the name or address fields of two customers despite knowledge of their location.

Securities / Derivatives

CSRC Considers Barring Data-Heavy Firms from Listing Overseas

By Sanday Chongo Kabange | 30/08/2021

The CSRC is drafting rules that would prohibit Internet firms holding large amounts of user-related data from listing overseas, targeting firms with VIE structures.

Crypto / Digital Assets

Thai SEC Proposes Rules to Protect Custodied Digital Assets

By Pongnut Thanaboonchai | 30/08/2021

The SEC has proposed new additional requirements for digital asset businesses regarding the custody of clients’ assets, both fiat money and cryptocurrency.