United States

Securities / Derivatives

Philippine SEC Proposes Draft Rules For Umbrella Funds

By Sanday Chongo Kabange | 21/02/2022

Investment companies will be allowed to operate umbrella funds as long as they create at least two sub-funds, which segregated assets and liabilities.

AML / KYC

Korea’s KT Corp to Pay $6.3m for FCPA Violations

By Editors | 21/02/2022

KT Corp maintained slush funds for nearly a decade which were used by executives and employees to bribe Korean and Vietnamese officials.

Fintech / Regtech

US DOJ Appoints First Director of National Crypto Enforcement Team

By Editors | 20/02/2022

The FBI has meanwhile created a new “Virtual Asset Exploitation Unit”, which will provide analysis, support, training and new tools to stay ahead of future crypto-related threats.

Enforcement

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.

Fintech / Regtech

NYSE Seeks Trademark Licences for Digital Marketplace

By Sanday Chongo Kabange | 18/02/2022

A filing with the US Patent and Trademark Office suggests the NYSE may be planning to launch an NFT marketplace as well as its own cryptocurrency.

Enforcement

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.

Fintech / Regtech

Thai SEC Proposes New Rules on Crypto-related Advertising

By Manesh Samtani | 15/02/2022

Advertisements related to cryptocurrencies in public areas will be prohibited, but advertising of services “can still be carried out normally”.

Securities / Derivatives

Thailand SEC Proposes Revisions to Private Placement Rules

By Sanday Chongo Kabange | 15/02/2022

The changes streamline filing processes for offerings of newly issued shares through private placements, while bolstering investor protections.

Securities / Derivatives

Philippine SEC Consults on ASEAN Sustainable Fund Standards

By Editors | 14/02/2022

The SEC seeks views from investment firms and fund managers on their expectations for sustainable funds, including issuance trends, investment drivers, and regulatory requirements.