Daily News Headlines

  • Daily News Headlines – 23 Jul 2020

    MAS Imposes Composition Penalty of $1,100,000 on Asiaciti Trust Singapore Pte Ltd for AML/CFT Failures

    MAS, 22 Jul 2020

    The Monetary Authority of Singapore (MAS) has imposed a composition penalty of $1,100,000 on Asiaciti Trust Singapore Pte Ltd (ATSPL) for its failure to comply with MAS’ Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements. These failures were identified by MAS in an inspection. ATSPL has paid the penalty in full and taken remedial actions to address the risk management deficiencies that led to the breaches.

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    China plans quarterly look into banks' green finance performance

    Business Times, 22 Jul 2020

    The proposal, which is seeking public feedback until Aug 19, will cover a range of financing tools including loans, securities, investments, leasing and trusts. Banks will be rewarded or punished according to their performance results, the central bank said, without elaborating.

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    SEC Adopts Rule Amendments to Provide Investors Using Proxy Voting Advice More Transparent, Accurate and Complete Information

    SEC, 22 Jul 2020

    The Securities and Exchange Commission today voted to adopt amendments to its rules governing proxy solicitations designed to ensure that clients of proxy voting advice businesses have reasonable and timely access to more transparent, accurate and complete information on which to make voting decisions.  The amendments aim to facilitate the ability of those who use proxy voting advice—investors and others who vote on investors’ behalf—to make informed voting decisions without imposing undue costs or delays that could adversely affect the timely provision of proxy voting advice.

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    CFTC Approves Final Swap Dealer Capital Rule at July 22 Open Meeting

    CFTC, 22 Jul 2020

    The Commodity Futures Trading Commission at its open meeting today approved a final rule regarding new capital and financial reporting requirements for swap dealers (SDs) and major swap participants (MSPs). Adoption of this rule marks the completion of the CFTC’s required rulemakings under Section 731 of the Dodd-Frank Act, which was enacted 10 years ago this week.

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