LATEST NEWS

Market Infrastructure

Two More ETFs List via Singapore-Shenzhen Trading Link

By Editors | 31/12/2022

SGX listed its second ETF via the SZSE-SGX ETF Link. SZSE listed its first ETF via the link. The two ETFs have a combined AUM of over SGD 270 million.

Enforcement

China to Crack Down on Illegal Stock Recommendations

By Editors | 30/12/2022

Regulators are targeting online information, accounts, website platforms and mobile apps being used to make stock recommendations illegally.

AML / KYC

SEC Philippines Increases Penalties for UBO Non Disclosure

By Editors | 30/12/2022

Directors, trustees, and officers can also be fined personally and barred for five years for failure to ensure compliance with beneficial ownership disclosure requirements.

AML / KYC

Isle of Man, Guernsey, Jersey Pause Work on UBO Registers

By Editors | 30/12/2022

Further legal advice is needed following the November judgment by the EU Court of Justice, which found public access to UBO information interferes with the right to privacy.

ESG / Sustainability

China ETS Sees Lower Than Expected Trading Performance

By Editors | 30/12/2022

Only 44 million tonnes of carbon allowances were traded during 2022, down from 179 million tonnes in 2021, though the market has now exceeded CNY 10 billion in cumulative turnover.

Fintech / Regtech

InvestHK Launches Platform to Promote Fintech Development

By Editors | 30/12/2022

The ‘FintechHK Community Platform’ allows users from fintechs, corporates, investors, and service providers to connect with one another.

Securities / Derivatives

FSC Korea to Introduce Takeover Bid Rule for M&A Deals

By Editors | 30/12/2022

The rule will require takeover bidders to offer minority shareholders an opportunity to sell their shares in a corporate merger or acquisition.

AML / KYC

SFC to Collect More Granular Data from Licenced Firms

By Manesh Samtani | 30/12/2022

Many of the new questions in the SFC’s updated BRMQ focus on AML/CFT practices and brokerage business controls.

Enforcement

Meta to Pay $725m to Settle Cambridge Analytica Claims

By Editors | 30/12/2022

Facebook allowed Cambridge Analytica to access data of 87 million users. The proposed settlement is the largest ever in a US data privacy class action.