News Centre

Monetary Authority Of Singapore Imposes Composition Penalty Of $1,100,000 On Asiaciti Trust Singapore Pte Ltd For AML/CFT Failures

Date 22/07/2020

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.

Kiwis Confident Financial Markets Will Recover From COVID-19, Plan To Increase Investments

Date 22/07/2020

Despite the majority (60%) of investors experiencing losses as a result of COVID-19, the outlook on investing remains positive, according to a Financial Markets Authority (FMA) survey. Most Kiwis (71%) were optimistic that the pandemic will pass eventually and markets will recover with time. Nearly a quarter (23%) were planning to increase existing investments or make new investments in the year ahead.

ASIC, Australian Federal Police And Australian Taxation Office: Organised Crime Investigation Charges 12 Over Complex Fraud

Date 22/07/2020

A joint-agency investigation into an elaborate $17 million fraud has resulted in charges against 12 people across the east coast of Australia – including people who have been of long-term interest to transnational and serious organised crime investigators.

ISDA: Brexit FAQs – Version 8

Date 21/07/2020

These FAQs address the possible UK position post-Brexit, i.e. after the conclusion of the exit process under Article 50 of the Lisbon Treaty. The exit negotiations, and the position in respect of cross-border financial services, are still evolving and will depend upon the final relationship negotiated between the UK and the European Union (the “EU”).

Ontario Securities Commission Panel Approves Settlement With Coinsquare, Cole Diamond, Virgile Rostand And Felix Mazer

Date 21/07/2020

A Panel of the Ontario Securities Commission (OSC) today approved a settlement agreement with Coinsquare Ltd., Cole Diamond, Virgile Rostand and Felix Mazer. The settlement relates to market manipulation on the Coinsquare platform, misleading statements to investors and a reprisal against an internal whistleblower.

ISDA: Bloomberg Begins Publishing Calculations Related To IBOR Fallbacks

Date 21/07/2020

Bloomberg and ISDA today announced that Bloomberg Index Services Limited (BISL) has begun calculating and publishing fallbacks that ISDA intends to implement for certain key interbank offered rates (IBORs).

ICYMI: Chairman Tarbert Recaps His First Year Leading The CFTC On Bloomberg TV

Date 21/07/2020

Chairman Tarbert on the First Year of His Chairmanship and the Impact of COVID-19:

“It has been a tremendous twelve months and we have gotten so much done. The men and women of the CFTC have really risen to the occasion. We have had twelve open meetings and this week we are going to have meetings thirteen and fourteen, and that’s more than in the last six years the CFTC had combined. That said, in the middle of it, as you mentioned, we’ve had this major challenge, COVID-19 and its impact on our markets. And the good news for everyone is that our derivatives markets have remained incredibly resilient. They’re working just as we intended them to work. The system is safe and sound, and its enabled many Americans to go ahead and hedge the risk they’re experiencing because of this crisis.”

African Fund Managers Look For Governance In New Markets - Governance At The Heart Of Investment Decisions Of African Fund Managers

Date 21/07/2020

Governance, good regulation and availability of market data and prices help African fund managers decide on investing into other African markets, according to a survey of 50 African asset-managers for the African Exchanges Linkage Project (AELP) project. Key factors when they choose new markets are: market regulation (91% of replies), followed by investor regulation and availability of market data and prices (90% each).

Opening Statement Of CFTC Chairman Heath P. Tarbert Before The Market Risk Advisory Committee Meeting

Date 21/07/2020

Introduction

Good morning and thank you all for attending this Market Risk Advisory Committee (MRAC) meeting via teleconference.  I would especially like to thank Commissioner Behnam and his staff for convening this meeting.  I am also grateful to Alicia Lewis, the Designated Federal Officer for the MRAC, for organizing the meeting.  And of course, I must thank Nadia Zakir for serving as the MRAC Chair, and all the MRAC members for taking the time to share your valuable perspectives.

J.P. Morgan Asset Management And Hazeltree Partner To Streamline Cash And Liquidity Management For Private Fund Managers

Date 21/07/2020

J.P. Morgan Asset Management (NYSE: JPM) and Hazeltree, the leading provider of cloud-based treasury solutions for investment managers, have partnered to deliver a unique and integrated cash and liquidity management platform to private equity, private credit, real estate and infrastructure funds.