Supplemental Circular on Leveraged and
Inverse Products
SFC Circulars, 22 May 2020
This circular is supplemental to the SFC’s Circular
on Leveraged and Inverse Products (the “L&I Products Circular”).
Capitalised terms should have the same meaning as defined in the L&I
Products Circular unless otherwise provided.
Full Text: Click Here
Circular to Licensed Corporations and Associated Entities - Anti-Money Laundering / Counter-Financing of Terrorism
SFC Circulars, 22 May 2020
The sanctions committee of the United Nations Security Council (“UNSC”) which administers the sanctions regime for ISIL (Da’esh) and Al-Qaida added one individual to its sanctions list on 21 May 2020 (New York time).
Full Text: Click Here
FCA acts to strengthen protections for customers
using payment firms
FCA Press Release, 22 May 2020
The FCA has launched a consultation on additional
guidance for payments firms to strengthen the way in which they look after
customers’ money. The payments sector is a priority area for the FCA and the
consultation follows ongoing work to ensure payments firms are adequately
protecting customer funds.
Full Text: Click Here;
Guidance Consultations: Click Here
SEC Shuts Down Fraudulent Investment Adviser
Targeting Senior Citizens
SEC Press Release, 22 May 2020
The Securities and Exchange Commission today
announced that it has filed an emergency action and obtained a temporary
restraining order and asset freeze against a California-registered investment
adviser and his entities to halt an ongoing Ponzi scheme targeting senior
citizens in Southern California.
Full Text: Click Here
CFTC Issues COVID-19
Customer Advisory on Commodity ETPs and Funds
CFTC News, 22 May 2020
The Commodity Futures
Trading Commission today issued a Customer Advisory informing the public about
the unique risks associated with certain trading vehicles that use futures
contracts or other commodity interests as they make investment decisions during
the COVID-19 (coronavirus) pandemic. This is the third Customer Advisory the
CFTC has issued in response to the pandemic and is a joint product of the
Office of Customer Education and Outreach (OCEO) and the Division of Swap
Dealer and Intermediary Oversight (DSIO).
Full Text: Click Here
United Nations Sanctions (ISIL and Al-Qaida) Regulation & United
Nations (Anti-Terrorism Measures) Ordinance (22 May 2020)
Customs MSOS, 22 May 2020
Money Service
Operators (“MSOs”) published a circular regarding an updated list of “individuals, groups’s, undertakings and entities” and an updated
list specifying terrorists and terrorist associates designated by the UNSC.
Full text: Click Here
China to
promote regulation for registration-based system of ChiNext
ChinaDaily,
24 May 2020
China planned to
optimize the issuance and underwriting of initial public offerings (IPOs) under
the reform of the registration-based IPO system in ChiNext, the country's
Nasdaq-style board of growth enterprises. The CSRC recently started to solicit
public opinion on a special regulation, expecting to regulate IPO activities in
the registration system of ChiNext, and protect the legitimate rights and interests
of investors and public interests.\
Full text: Click Here
