United States

AML / KYC

US Treasury Issues 2020 National Strategy for Combatting Illicit Finance

By Editors | 10/02/2020

The document highlights increased transparency, an improved supervisory framework for FIs, and enhanced operational capabilities as three strategic priorities for the US AML/CFT regime.

Market Infrastructure

US, Singapore Jointly Declare Opposition to Data Localisation

By Editors | 06/02/2020

The US and Singapore support allowing financial service suppliers to transfer data across borders and oppose generally applicable data localisation requirements.

Securities / Derivatives

Thailand, Luxembourg Explore Financial Market Cooperation

By Editors | 04/02/2020

Thailand’s SEC and LuxSE have discussed cooperation to promote sustainable finance, while also agreeing to explore the creation of a trading link between the two countries.

Capital / Liquidity

Further Volcker Rule Easing Proposed, Despite Dissenting Voices

By Manesh Samtani | 01/02/2020

The proposed revisions seek to relax the Volcker Rule’s general prohibition on banks investing in hedge funds, private equity funds and credit funds.

Securities / Derivatives

SEC Philippines Drafts Derivatives Investment Rules for Funds

By Editors | 29/01/2020

The global exposure to financial derivatives must not exceed 20% of the qualifying fund’s net assets, up from 10% previously.

AML / KYC

Sanctions Screening Short Cuts Not Worth the Risk: Refinitiv

By Manesh Samtani | 29/01/2020

Increasingly aggressive US sanctions policies highlight the need for financial institutions to adopt and implement a sophisticated risk-based approach to compliance.

Securities / Derivatives

KRX to Cap KOSPI 200 Single Stock Weighting at 30pc

By Editors | 27/01/2020

Institutional investors who mirror the KOSPI 200 index may need to offload an estimated 500-800bn won worth of Samsung Electronics shares to rebalance their portfolios.

Enforcement

CFTC Penalises Australian Firm for Spoofing by Former Trader

By Editors | 23/01/2020

The CFTC has ordered Propex Derivatives to pay $1mn, comprising restitution, disgorgement, and a civil monetary penalty. The DOJ has also entered a deferred prosecution agreement with the firm.

Securities / Derivatives

Philippine Regulators Ease REITs Rules with New Framework

By Editors | 21/01/2020

The new rules remove stringent tax and minimum public ownership requirements under a 2009 law that prevented the rise of REITs in the Philippine capital market.