United States

Market Infrastructure

SGX Launches New Trading Engine from Nasdaq

By Editors | 15/07/2019

The upgrade standardises and unifies SGX’s operations, messaging and data infrastructure, enabling greater flexibility, speed and cost-efficiency when launching new products and services.

Enforcement

Korea Exchange Fined for Making False Statement to CFTC

By Editors | 14/07/2019

The CFTC found that KRX failed to disclose that it was not in compliance with a requirement to use daily stress tests to evaluate the sufficiency of its financial resources.

AML / KYC

US Authorities Probe Deutsche Bank Dealings With 1MDB

By Editors | 13/07/2019

The DOJ probe is looking into whether Deutsche Bank failed to comply with US AML or foreign bribery laws in the course of raising $1.2bn for 1MDB in 2014.

Fintech / Regtech

Philippines SEC Approves Crowdfunding Rules

By Editors | 10/07/2019

The Philippines SEC has issued rules governing the operation and use of equity- and lending-based crowdfunding to help smaller firms access financing.

Market Infrastructure

Philippine SEC Drafts Framework for Cross-border Publication of Research

By Editors | 08/07/2019

Under the draft framework, capital market professionals authorised by the SEC can issue research reports in ASEAN countries that are MoU signatories: Malaysia, Singapore and Thailand.

Enforcement

Goldman Banker Tim Leissner Banned for Life in Hong Kong

By Editors | 04/07/2019

Leissner’s conduct in relation to the Malaysian state fund 1MDB called into question his fitness and properness to be a licensed person, the SFC said.

Enforcement

Hong Kong Hedge Fund Penalised by CFTC, CME

By Editors | 04/07/2019

Elephas Investment Management was found to have violated wheat futures speculative position limits established by the CFTC.

Securities / Derivatives

NZX Has Enhanced its Surveillance Function, says FMA

By Editors | 30/06/2019

The NZX improved its market surveillance function in response to last year’s FMA review. It is also planning to complete a trading system upgrade next year, using NASDAQ technology.

Enforcement

MUFG Bank Reaches Settlement with New York State Regulator

By Editors | 28/06/2019

The agreement settles claims relating to MUFG’s switch from state to federal oversight in November 2017, as New York regulators asserted continuing regulatory authority.