PEPs & Sanctions

DFAT to Establish New Australian Sanctions Office from 1 Jan

26/12/2019

As part of the establishment, Australia’s Department of Foreign Affairs and Trade will be rolling out changes to its online sanctions permit platform in early 2020.

Payments & Settlements

SEBI to End Usage of Pool Accounts for Mutual Fund Transactions

26/12/2019

SEBI found that trading and clearing members used by mutual funds were diverting client funds and securities to meet their own or third-party margin or settlement obligations.

Conduct, Culture & Accountability

Australia Proposes Industry-Funded Compensation Scheme of Last Resort

25/12/2019

The scheme will ensure that consumers and small businesses receive a payout in cases where compensation has been awarded but the financial services provider is unable to pay.

Cloud & Infrastructure

ASIC Publishes Findings from 2019 Regtech Initiatives

25/12/2019

Participants said the exponential growth in data volume means the financial services industry must consider implementing regtech as an ‘imperative’ to undertake risk management and compliance functions.

PEPs & Sanctions

ISDA Calls For Guidance on Handling of Derivatives Impacted by Sanctions

25/12/2019

ISDA proposes 8 principles sanctions authorities can consider to ensure safe operation of markets, and minimise derivatives market disruption and economic consequences for non-sanctioned entities.

Conduct, Culture & Accountability

ASIC, APRA Issue Updates on Governance, Accountability

25/12/2019

The updates are a response to the Royal Commission, which called on both regulators to reform their internal accountability frameworks to reflect requirements prescribed by BEAR.

Clearing & Post-Trade

HKEX to Shorten IPO Settlement to Single Day

25/12/2019

HKEX hopes to shorten Hong Kong’s five-day IPO settlement process to just one day by end-2020.

KYC & CDD

FSC Korea Enables Online Account Opening for Foreigners

24/12/2019

The FSC will allow non-face-to-face account opening by foreigners residing in Korea, and by legal representatives of corporations.

Conduct, Culture & Accountability

SFC Fines Adamas Asset Management for Disclosure Failings

24/12/2019

The asset manager was fined HK$2.5mn for filing 339 incorrect or late notifiable interest disclosures to the SEHK and eight listed companies.