Cloud & Infrastructure

S. Korea FSC Accepts Six More Fintech Sandbox Participants

13/06/2019

The FSC has approved six more fintech services for the regulatory sandbox, bringing the total number of approved companies to 32.

Trading & Investment

UPDATED – Shanghai-London Connect to Start Trading 17 June

13/06/2019

GDRs issued by Huatai Securities will be admitted to the Shanghai-London Stock Connect segment of the LSE on 20 June, when trading will commence.

Structural Regulation

Hong Kong Proposes Insurance Connect with China

13/06/2019

The proposed plan will allow Hong Kong insurers to set up offices in Guangdong and Macau, part of a large integration plan for the Greater Bay Area.

Clearing & Post-Trade

Bursa Malaysia Launches Mobile Depository Services

13/06/2019

‘Bursa Anywhere’ allows individual investors to manage their share depository account on their cellphones.

Supervision & Enforcement

Commonwealth Financial Planning Completes Enforceable Undertaking

13/06/2019

ASIC is satisfied that Commonwealth Financial Planning has completed the necessary steps to address a service model that charged fees for no service.

Payments & Settlements

MAS: Remittance Firms Forbidden from Making Loans

13/06/2019

Remittance firms will be prohibited from issuing advances to individuals starting September this year, ahead of the Payment Services Act entering into force.

Data Privacy

Hong Kong, Singapore Cooperate on Personal Data Protection

12/06/2019

Hong Kong and Singapore’s data protection authorities have signed an MOU to strengthen cooperation on personal data protection.

Capital Adequacy

UPDATED – FSC Korea to Tighten Scrutiny of Financial Conglomerates

12/06/2019

FSC chairman Choi Jong-ku is concerned with excessive intra-affiliate transactions among non-financial affiliates and opaque capital injections at Korea’s family-run business conglomerates.

Market Abuse

UPDATED – Merrill Lynch in KRX Crosshairs for High-Frequency Trading

12/06/2019

KRX probe to determine if Citadel’s HFT algorithm breached fair trade rules; Merrill Lynch reprimand to be decided following alleged market disruption.