HKEX kicks off trading of first tranche of 10 MSCI
futures contracts tracking stock markets from Australia to Japan
SCMP, 6 Jul 2020
Hong Kong stock exchange launched the trading of the futures
contracts denominated in US dollars as part of a licensing deal for 37 such
derivatives. The contracts cover stock markets in China, Australia, India,
Indonesia, Japan, Malaysia, Taiwan and Thailand.
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Investigation into Citadelle and Senjo Following Review
of Developments Relating to Wirecard
MAS, 3 Jul 2020
The Commercial Affairs Department (CAD) of the Singapore
Police Force and the Monetary Authority of Singapore (MAS) have launched a
joint investigation into Citadelle Corporate Services Pte Ltd (“Citadelle”),
Senjo Group Pte Ltd and its subsidiaries (“Senjo”) for suspected falsification
of accounts under the Penal Code (Cap 224), as well as carrying on a trust
business without a licence under the Trust Companies Act (Cap 336).
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New regulation allows equity financing of STAR-listed
firms
China Daily, 3 Jul 2020
The China Securities Regulatory Commission, the country's
top securities watchdog, released a regulation that allows STAR-listed firms to
issue securities on Friday to facilitate the financing of high-quality
technology public firms.
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Revolut aims for higher compliance standards as it seeks
expansion in Asia
Business Times, 3 Jul 2020
Fintech Revolut has amped up efforts in boosting compliance
standards, which it sees as necessary for regional expansion. Revolut has built
an in-house fraud detection system that can flag a possible fraudulent
transaction "within milliseconds". The affected user is then notified
automatically via the Revolut app to verify the transaction. "Developing
this system in-house gives our customers the ability to, very quickly, verify
the transaction on their smartphones and reduce fraud losses on our end,"
said Mr Rayson Tan, without specifying the fintech's current fraud-loss rate.
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Spain fines staff of China's ICBC for money laundering
Business Times, 3 Jul 2020
Spain's top criminal court fined four former employees of
Chinese mega-bank ICBC 22.7 million euros (S$35.6 million) Thursday and handed
them brief jail terms for laundering millions of euros for Chinese criminal
groups.
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FCA publishes Decision Notice against former Worldspreads
CEO for market misconduct
FCA, 3 Jul 2020
The Financial Conduct Authority (FCA) has today published a
Decision Notice in respect of Conor Foley, the former Chief Executive Officer
of Worldspreads, fining him £658,900 for market abuse and banning him from
performing any roles linked to regulated activity.
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