Big Picture

Talking Crypto Regulation with Ripple’s Sagar Sarbhai

22/05/2018

Regulation Asia sat down with Sagar Sarbhai, Head of Government and Regulatory Relations for APAC and the Middle East at Ripple, to discuss the company’s business proposition and the regulatory challenges it faces across the region.

Securities / Derivatives

London Exchange Releases Shanghai Trading Link Blueprint

21/05/2018

London-Shanghai Stock Connect to start later this year; SSE companies worth over CNY20bn will be allowed to list up to 15% of total share capital in the UK.

Market Infrastructure

China-backed Derivatives Exchange APEX Set for Launch in Singapore

21/05/2018

Asia Pacific Exchange will become Singapore’s third derivatives exchange, initially offering dollar-denominated and physically tradable palm olein futures starting 25 May.

Fintech / Regtech

MAS Eyes Greater Financial Sector Resilience to Cyber Threats

21/05/2018

Consultation to be issued “soon” on raising cyber resilience at financial institutions in Singapore; rules to include internal controls, independent reviews, authentication practices.

Enforcement

SFC Fines Citigroup $7.3mn For IPO Sponsor Failures

21/05/2018

The regulator fined Citigroup for due diligence and staff supervision failures relating to IPO work in 2009; no constraints placed on its business activities.

Market Infrastructure

S. Korea Banks Respond to Hiring Scandals with New Recruitment Standards

18/05/2018

Korea Federation of Banks has submitted a draft proposal to the FSC which includes written exams for candidates, document screening by external agencies and blind interview processes.

Securities / Derivatives

ASIFMA: China’s Reforms Target Increased Foreign Participation

17/05/2018

Beijing-based panellist emphasised the rule of law, clear and transparent regulation and increased competition from foreign intermediaries as key to China’s opening up.

Enforcement

CSRC Hands Out $1.2bn in Penalties in Bumper Year

15/05/2018

Regulator handed out penalties amounting to $1.19bn in 2017, an 80% increase from 2016; market bans involved 44 persons, the highest in recent years.

Securities / Derivatives

JPMorgan Seeks Majority Stake in China Ventures

14/05/2018

The US bank’s Hong Kong unit has applied for 51% stake in a Chinese securities firm; also announced plans for majority stake in its fund management joint venture.