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Cryptocurrency
Philippine SEC Consults on Draft Rules for Digital Asset Exchanges
By Manesh Samtani | 19/07/2019
The rules specify capital requirements of PHP 100mn, plus 12 months of operating expenses, and allow digital asset exchanges in the Philippines to be set up by foreign-registered entities.
Anti-Money Laundering
Thailand to Mandate Extra Reporting Rule for Digital Asset Trades
By Editors | 19/07/2019
Digital asset exchanges will have to report all trades exceeding 5 million baht to commercial banks, which will then report the transactions to the Thailand’s Anti-Money Laundering Office.
Market Abuse
US SEC Penalises Nomura for Mis-sold Mortgage Backed Securities
By Editors | 17/07/2019
Nomura Securities International has agreed to repay approximately $25mn to affected customers and $1.5mn in SEC fines to settle the charges.
Clearing & Post-Trade
CFTC Eases Foreign Clearinghouse Access to US Customers
By Manesh Samtani | 15/07/2019
An alternative compliance regime will be provided for non-US DCOs registered with the CFTC, while exempt DCOs will be allowed to offer clearing through foreign intermediaries.
Structural Regulation
Japan FSA, CFTC Agree to Mutually Recognise Derivatives Platforms
By Editors | 15/07/2019
Certain FSA-regulated derivatives trading platforms will be exempt from the requirement to register with the CFTC, and the FSA will facilitate authorisation for CFTC-regulated platforms.
Trading & Investment
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.
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.
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