Structural Regulation

Singapore Fintech Awarded Philippine Licence to Operate Digital Bank

14/01/2020

TONIK Digital Bank will be the first “pure-play” digital bank in Southeast Asia, focusing on retail deposits and consumer loans.

Conduct, Culture & Accountability

ASIC to Audit Broker Sales of Listed Investment Funds

14/01/2020

ASIC is reviewing whether sales commissions paid by fund managers to brokers or financial advisers to sell funds compromise the best interests of investors.

Conduct, Culture & Accountability

SEBI Launches Fresh Probe into NSE for Data Leak

14/01/2020

The alleged leaks are said to have involved documents related to NSE policy decisions, internal studies and board meeting minutes.

Market Abuse

FSS Korea Probes Fraud Involving Small-cap Stocks

14/01/2020

A group of investors is suspected of taking control of small firms, only to then release news designed to inflate share prices or raise more capital to enrich themselves.

Fraud, Scams & Cybercrime

CSRC Imposes Lifetime Bans on Former Fuxing Group Executives

14/01/2020

Fuxing’s former chairman and ex-president received lifetime bans for running a six-year scheme to defraud investors of $5.3bn. Five others received market bans.

Custody & Infrastructure

Legal Certainty Needed to Advance DLT Adoption in Derivatives

14/01/2020

ISDA, Clifford Chance, R3 and the Singapore Academy of Law have published a new whitepaper analysing the legal issues relating to the use of smart derivatives contracts on a distributed ledger.

Cloud & Infrastructure

Thailand Developing Foundation for Digital Banking – Report

14/01/2020

The efforts are aimed at developing data from non-financial sources, an electronic identification system, and a suitable regulatory framework.

KYC & CDD

Bangladesh Introduces e-KYC for All Financial Services Firms

13/01/2020

All financial institutions regulated by Bangladesh Bank are expected to introduce e-KYC in compliance with the new guideline by December 2020.

Tokenisation

QME to Leverage Blockchain to Standardise Warehouse Receipts

13/01/2020

HKEX’s Qianhai Mercantile Exchange will use blockchain tech from Ant Financial to provide verifiable warehouse receipts which will help commodities businesses to obtain financing.