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Clearing & Post-Trade
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.
Anti-Money Laundering
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.
Alternative Markets
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.
Trading & Investment
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.
Anti-Bribery & Corruption
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.
Supervision & 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.
Trading & Investment
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.
PEPs & Sanctions
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.
Clearing & Post-Trade
SGX Enables Portfolio Compression for Listed Derivatives
By Editors | 28/06/2019
SGX, in collaboration with a unit of BGC Partners, has become the first exchange in Asia to launch a portfolio compression service for listed derivatives.
Structural Regulation
CFTC Clarifies How Foreign Broker Exemptive Relief Can Be Terminated
By Editors | 27/06/2019
The CFTC has the right to terminate the exemptive relief granted to foreign brokers, but current regulations do not provide a specific course of action if exemptive relief no longer warranted.
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