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PEPs & Sanctions
US Judge Subpoenas Chinese Banks in Sanctions Probe – Report
By Editors | 07/05/2019
A US federal judge has ordered three Chinese banks to provide documents in relation to a Hong Kong company which allegedly helped North Korea evade international sanctions.
Market Risk
CFTC Chairman Seeks Formal Guidance on Phase 5 Initial Margin
By Manesh Samtani | 06/05/2019
Chairman Giancarlo seeks regulatory guidance clarifying that entities with calculated initial margin amounts less than $50mn need not make preparations to exchange initial margin.
Trading & Investment
Securities Association Says MPFA Needs to Enable China Market Access
By Editors | 06/05/2019
MPF managers are allowed to invest in 40 approved overseas exchanges, but this does not include exchanges in China.
Anti-Money Laundering
Japan to Halt Overseas Transfers that Bypass Bank Accounts
By Editors | 06/05/2019
In preparation for this year’s FATF review, Japanese banks will reportedly terminate counter services for overseas remittances that bypass bank accounts.
Trading & Investment
MPF Needs Greater Access to China Markets – HKIFA
By Editors | 24/04/2019
Hong Kong fund managers are asking for Shanghai and Shenzhen to be included in the list of overseas markets approved for MPF investment.
Clearing & Post-Trade
Settlement Workflow Needs to be Fully Automated – DTCC
By Editors | 18/04/2019
Settlement processes are attracting more attention as regulators require shorter and more certain settlement, with potential penalties for noncompliance.
Market Abuse
Goldman, Credit Suisse Raided in Seoul in Samsung BioLogics Probe
By Editors | 15/04/2019
Prosecutors are reportedly looking for information about a scrapped Nasdaq listing of a Samsung BioLogics subsidiary, to shed light on possible accounting irregularities.
Structural Regulation
US SEC Recognises NZX as Designated Offshore Market
By Editors | 11/04/2019
NZX participants will no longer be required to maintain a reasonable belief that clients are non-US domiciled persons in order to trade on their behalf.
Liquidity Risk
Federal Reserve Consults on New Rules for Foreign Banks in the US
By Editors | 11/04/2019
The proposals could relax capital and stress testing requirements for US branches of foreign banks, but impose stricter liquidity rules on those that engage in riskier activities.
Anti-Money Laundering
Standard Chartered Fined Over $1bn by US, UK Authorities
By Editors | 10/04/2019
Standard Chartered Bank will pay $947mn to US authorities for poor AML controls and sanctions breaches, and $134mn to the UK FCA for AML breaches.
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