LATEST NEWS

Capital / Liquidity

HKMA Specifies Regulatory Treatment of Swap Connect Margins

By Editors | 10/05/2023

Margins posted by banks to OTC Clear for participating in Swap Connect should be treated in the same manner as default fund contributions.

Enforcement

S. Korea: Key Suspect Detained in Stock Manipulation Case

By Editors | 10/05/2023

Ra Deok-yeon allegedly used order matching to inflate stock prices and defraud investors. Two other key suspects were also detained.

Securities / Derivatives

IOSCO Publishes Guidance on Enhancing SPAC Regulations

By Editors | 10/05/2023

The report focuses on addressing dilution risk, the protection of retail investors, and the “significant backlog” of SPACs seeking to avoid liquidation.

Fintech / Regtech

HKMA Issues Regtech Guide on Protecting Customer Data

By Editors | 10/05/2023

The guide offers implementation advice for using Regtech solutions to enhance customer privacy protection and streamline data processing operations.

Hong Kong Passes Bill to Grant Tax Incentives to Family Offices

By Editors | 10/05/2023

The tax concession will be applicable to any years of assessment commencing on or after 1 April 2022.

Crypto / Digital Assets

Bankrupt FTX Affiliate Alameda Research Hit with $44b Tax Bill

By Mark Johnston | 10/05/2023

In bankruptcy proceedings, the IRS claims would take precedence over those of unsecured creditors, including FTX’s one million users.

China Tightens Scrutiny of Foreign Consulting and Audit Firms

By Editors | 10/05/2023

Capvision is accused of stealing state secrets, foreign auditors are under increased scrutiny, and Chinese data providers are blocking overseas access to their databases.

AML / KYC

Australia Budget Offers Funding for AML, Scams, Cyber

By Manesh Samtani | 10/05/2023

Funding is provided to AUSTRAC, the Attorney-General’s Department, ASIC, the ACCC, and the launch of an SMS Sender ID Registry.

AML / KYC

MAS to Consult on Scam Loss Sharing Framework in Q3

By Manesh Samtani | 09/05/2023

Senior Minister Tharman Shanmugaratnam said the framework will include obligations for telcos, not just FIs and consumers.