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Enforcement
BaFin Efficacy Called into Question for Wirecard Handling
By Manesh Samtani | 22/06/2020
Last February, BaFin responded to whistleblower allegations and critical media reports by banning short-selling in Wirecard and filing criminal charges against journalists.
AML / KYC
Singapore Court Charges Two for North Korea Linked Bank Fraud
By Editors | 21/06/2020
The two are accused of falsifying invoices to conceal from UOB and OCBC the sale of sugar to North Korea entities. One of the individuals is also on the FBI’s most-wanted list.
Enforcement
CFTC Settles Deutsche Bank Spoofing, Swaps Reporting Cases
By Editors | 19/06/2020
Deutsche Bank will pay $9mn for violating swap data reporting requirements during a system outage, and $1.25mn for spoofing carried out by two Tokyo-based traders.
AML / KYC
US Passes Bill Threatening Sanctions Over Uyghur Human Rights
By Editors | 19/06/2020
The bill allows the US President to impose sanctions against Chinese officials identified as responsible for human rights abuses against Muslim minority groups in Xinjiang.
Market Infrastructure
HKEX to Launch Sustainable Finance Information Platform, ‘STAGE’
By Manesh Samtani | 18/06/2020
Initially, ‘STAGE’ will host information on the 44 green bonds and two ESG-related ETFs listed in Hong Kong. Over time, it could expand to include equities, overseas products, and derivatives.
Securities / Derivatives
US Federal Reserve Launches Bond-Buying Programme
By Manesh Samtani | 16/06/2020
A step not taken during the 2008 GFC, the Fed has started to buy corporate bonds in the secondary market, in a bid to support market liquidity and ensure credit availability.
Market Infrastructure
EC Proposes Simplified Approach to Supervising Non-EU CCPs
By Editors | 14/06/2020
Under the new approach, third-country CCPs that are not deemed systemically important will only be subject to basic ESMA supervision, relying on ‘comparable compliance’.
Securities / Derivatives
Thailand SEC Supports LuxSE Listings by Domestic Firms
By Editors | 10/06/2020
Thai bond issuers can list their securities on LuxSE’s BdL or Euro MTF; or alternatively obtain a profile listing on the SOL to gain visibility on the Luxembourg Green Exchange.
Enforcement
Luckin Coffee Chairman Likely to Face Criminal Charges – Report
By Editors | 08/06/2020
The CSRC and Ministry of Finance have reportedly found new email evidence indicating that chairman Lu Zhengyao instructed his colleagues to commit fraud.
AML / KYC
Singapore to Tighten AML Rules for Casinos – Report
By Editors | 08/06/2020
Singapore’s legislated threshold for cash transactions that are subject to due diligence is higher than the $3,000 threshold set by the FATF.
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