Trading & Investment

SFC Issues Circular on Use of Annualised Returns for MMFs

26/10/2023

The SFC has decided to allow fund managers and intermediaries to present annualised returns for MMFs for periods of less than one year.

Conduct, Culture & Accountability

UK Regulators Announce Removal of Banker Bonus Cap

25/10/2023

The BOE and FCA have scrapped rules for banks, building societies, and investment firms which cap bonuses at twice annual salary.

Conduct, Culture & Accountability

US SEC Fines BlackRock Unit Over Inaccurate Investment Descriptions

25/10/2023

BlackRock Advisors LLC incorrectly described a company that a fund it advised invested in and the interest rate the investment paid.

Fraud, Scams & Cybercrime

ABS Says Anti-Scam Measures Have Been Effective

25/10/2023

Banks prevented more than S$57mn in scams in the first nine months of 2023, and are applying discretionary goodwill frameworks to cushion victims.

Tokenisation

Euroclear Launches DLT-based Digital Securities Issuance Service

25/10/2023

The inaugural Digitally Native Notes were issued by the World Bank on LuxSE, raising €100mn to finance sustainable development activities.

Payments & Settlements

Wolfsberg Group Updates Payment Transparency Standards

25/10/2023

The updated Standards support the use of the LEI in global payments, which GLEIF welcomed as a “strong endorsement”.

Structural Regulation

MAS to Streamline Regulatory Regime for Fund Managers

24/10/2023

The RFMCs regime will be repealed. Existing RFMCs will transition to become Licensed Fund Management Companies instead.

Anti-Bribery & Corruption

China’s Foxconn Investigation Making Investors Uneasy – Reports

24/10/2023

Reports suggest the investigation is politically motivated, because Foxconn founder Terry Gou is seeking Taiwan’s presidency.

Trading & Investment

Zhengzhou Exchange Launches Six New Commodity Options

24/10/2023

ZCE started trading options contracts staple fiber, soda ash, apples, manganese silicon, ferrosilicon and urea.