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BNP Paribas Asset Management Appoints Steven Billiet As Head Of APAC

Date 22/07/2020

BNP Paribas Asset Management (‘BNPP AM’) announces the appointment of Steven Billiet as Head of Asia Pacific, with effect from 8 August 2020. He succeeds Ligia Torres, who is retiring from the firm and will return to Europe in August.
Raiffeisenbank Becomes The First International Participant Of AIX CSD For The Provision Of Custody Services

Date 22/07/2020

Raiffeisenbank has become a Participant of the Astana International Exchange Central Securities Depositories (AIX CSD), thereby allowing international institutional investors to hold their assets at the AIX CSD under the bank’s custody.
ASIC Will Not Appeal Federal Court Decision On Westpac’s ‘Responsible Lending’ Obligations

Date 22/07/2020

ASIC will not seek special leave to appeal to the High Court in the Westpac ‘responsible lending’ matter, following the full Federal Court’s 2-1 decision to reject its earlier appeal (20-149MR ASIC’s responsible lending appeal dismissed by Full Federal Court).
Shenzhen Stock Exchange Market Bulletin, July 20, 2020, Issue 21

Date 22/07/2020

The Shenzhen Stock Exchange gave the green light on July 13 to the first three companies seeking to list on ChiNext Market under the registration-based IPO mechanism. The three companies — cultural event planning company Beijing FengShangShiJi Culture Media Co. Ltd., medical-device maker Contec Medical Systems Co. Ltd., and package printing company LD Intelligent Technology Co. Ltd. — have met the requirements for issuance, listing and information disclosure and were sent to the CSRC for registration. In addition, three Listing Committee Meetings were held in the week to review the IPO applications of 11 other companies. According to the ChiNext Market IPO issuance and listing guidelines, IPO applicants can complete online and offline issuance within 12 working days and the listing can be arranged on the seventh trading day after the issuance date.
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).