The firm was fined HK$5mn for failures in client risk profiling and product due diligence, resulting in potentially unsuitable investment products being sold to clients.
May 30, 2018Measures to prevent repeat of Samsung Securities dividend payout error include new real-time monitoring system, tighter controls at securities firms, tougher penalties.
May 29, 2018Tighter regulations will apply to financial affiliates of five major conglomerates Samsung, Hyundai Motor, Hanwha, Lotte and DB, as well as affiliates of Kyobo Life Insurance and Mirae Asset Daewoo.
May 11, 2018SZSE and SSE have strengthened rules for member firms on monitoring key accounts for abnormal trading and market manipulation.
May 1, 2018PBOC governor said Chinese economic fundamentals were strong and that the central bank had enough tools to bring down financial leverage and mitigate systemic risks.
April 26, 2018BSP governor laid out the central bank’s regulatory priorities in fintech and regtech while revealing regulation around AML/KYC requirements and mitigating the risks surrounding data security.
April 19, 2018China looking to build a national database of financial products and institutions in order to improve monitoring and supervision and fend off systemic financial risk.
April 12, 2018Payment service providers have been asked to move all consumer data, including end-to-end transaction details to India within six months to ensure easier access by the central bank for supervisory purposes. Foreign firms to be impacted more than domestic firms.
April 9, 2018BSP to adopt regtech solutions including API for electronic data submissions by FIs, chatbot for complaints to the regulator.
April 5, 2018New rules to reduce leverage, ban guarantees; financial court to be set up in Shanghai will jurisdiction over major legal cases.
March 30, 2018