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Enforcement
SFC Imposes Lifetime Ban on Former China Citic Bank Employee
By Editors | 26/08/2020
The former relationship manager is said to have falsely represented to customers that an additional fee was needed to open an account with CITIC – which he then pocketed.
Crypto / Digital Assets
Malaysia, Indonesia Regulators Sign Fintech Cooperation Pact
By Sanday Chongo Kabange | 24/08/2020
The agreement aims to facilitate information sharing, provide joint innovation opportunities, and facilitate cross-border referrals of fintech businesses.
AML / KYC
SFC Grants In-principle Approval to Virtual Asset Trading Platform
By Editors | 23/08/2020
Once conditions for final approval are satisfied, OSL will be able allowed to operate a brokerage and automated trading service for digital assets.
Securities / Derivatives
HKEX Adds Two More Taiwan Futures Contracts to MSCI Suite
By Manesh Samtani | 20/08/2020
HKEX is seeking CFTC certification for the new contracts. The move intensifies competition with SGX, which already has a CFTC-certified futures contract for Taiwan.
AML / KYC
PEPs in the Limelight: Three Components to Mitigate Risk
By Editors | 19/08/2020
To understand the money laundering risks they face, financial firms need a robust and scalable approach to PEP identification and due diligence, says Refinitiv’s Michael Meadon.
Enforcement
SFC Bans Account Exec for 18 Months Over Discretionary Trading
By Editors | 12/08/2020
The former China Tonghai Securities account executive effected over 6,000 trades in a client’s account on a discretionary basis for almost 7 years without authorisation.
AML / KYC
US Sanctions 11 Chinese, Hong Kong Officials
By Manesh Samtani | 08/08/2020
The HKMA says unilateral sanctions imposed by foreign governments have “no legal status” in Hong Kong and banks should endeavour to treat customers fairly.
Securities / Derivatives
HKEX Launches Second Batch of MSCI Index Futures
By Editors | 04/08/2020
The next batch of contracts is due to be launched on 17 August, with the final four contracts still awaiting regulatory approval.
Market Infrastructure
Data: Fault Lines Criss-crossing Asia’s Capital Markets
By Matthew Chan | 27/07/2020
Global harmonisation and progressive thinking are needed to support data connectivity between markets, says Matthew Chan at ASIFMA.
Enforcement
Hong Kong Court Sentences Ex-HKMEx Chairman to Four Years Jail
By Editors | 27/07/2020
The 62-year-old Barry Cheung was found guilty a week earlier of conspiracy to defraud the SFC into letting HKMEx keep its licence to provide automated trading services in Hong Kong.
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