Forex Policy的动态

A new law passed on July 2 in Singapore quadruples fines for non-compliance with anti-money laundering rules among corporate service providers, increasing fines to up to S$100,000. It mandates registration for all providers, imposes stricter oversight on nominee directorships, and aims to curb illicit activities, reinforcing Singapore's commitment to financial integrity Read: https://lnkd.in/gy7PKDsJ Source: https://lnkd.in/gmAB9tJz #SinagaporeFinance #AML

The Securities Commission Malaysia (SC) has updated its Investor Alert List, 19 unauthorized websites, investment products, companies or individuals were added to the warning list in July 2024 (until July 18). #malaysia #warning #list #alert #investorprotection #fraud #scam #financialcrime #regulations

This morning, State Securities Commission of Vietnam (SSC) held a workshop to gather feedback on the amended Securities Law. The workshop was chaired by Ms. Vu Thi Chan Phuong, Chairwoman of SSC, and attended by market participants including securities companies, fund management firms, and credit rating agencies. The amended Securities Law focuses on enhancing transparency and efficiency in securities issuance and offering activities. Additionally, The central counterparty clearing houses (CCP) mechanism has been included in the draft, which is a crucial element for the long-term development of the market. The amended Securities Law will be discussed at the upcoming National Assembly session from October 21st to November 30th. #Vietnam #SSC #Securitieslaw #emergingmarket

The Securities Commission Malaysia (SC) has updated its Investor Alert List, 7?unauthorized websites, investment products, companies or individuals were added to the warning list in June?2024. #Malaysia #warning #scams #trading #online #websites #invest #alert #regulations #June2024

?? **Commodity Trader Loses Appeal in Singapore LC Fraud Case** In a significant legal development, Winson Oil has failed to overturn a court ruling in Singapore concerning fraudulent activities related to letters of credit (LCs). The case, which revolves around the collapse of Hin Leong, saw the Court of Appeal dismiss Winson’s appeal against Standard Chartered and OCBC. The court's decision reaffirms the stance that recklessness alone can suffice for invoking the fraud exception in LC disputes. This judgment highlights the importance of rigorous documentation and transparency in trade finance. The original ruling by Singapore’s High Court deemed Winson as acting fraudulently by being "recklessly indifferent" to the legitimacy of the transactions and documents involved. This case underscores the critical need for due diligence and careful review in trade finance to prevent fraud and safeguard the integrity of financial instruments. For more details, read the full article from GTR Global Trade Review [here](#). https://lnkd.in/d7bRR9Tx #TradeFinance #LegalUpdate #CommodityTrading #FraudPrevention #LettersOfCredit

Monetary Authority of Singapore introduces new Regulations under Securities and Futures Act for Corporate Governance of approved entities Read More Here- https://lnkd.in/ggCPPuph #MonetaryAuthorityofSingapore #corporategovernance #HoldingCompanies #regulatedinstitutions #SecuritiesandFuturesRegulations2024 #scconline #SCC #legalnews #legalknowledge #scctimes #legalblog #legalupdates #lawstudent #legalresearch #legalstudies #surestwaytolegalresearch #bringingyouthebestlegalnews

#SFC and #HKMA recently revised their joint circular to update the existing policy for intermediaries looking to engage in #VA activities. The revised circular does not make significant changes to the existing policy under the 2023 Circular, however, intermediaries that are looking to distribute?SFC-authorised VA funds should familiarise themselves with the updated Appendix to the revised circular to ensure full compliance with the most recent SFC requirements. Read the joint thought leadership produced by Tiang & Partners and #PwCHK experts: https://lnkd.in/gpcmZfez T&P: Gaven Cheong, Karen J Austin PwC HK: Peter Brewin, Josephine Kwan, Helen Li #VirtualAssets #SFCrequirements #ComplianceSolutions

The Cyprus Securities and Exchange Commission (CySEC) has finalized a settlement of €150,000 with NAGA MARKETS EUROPE LTD for potential violations of the Investment Services and Activities and Regulated Markets Law. This decision, following an extensive review of the company's activities from January 2021 to April 2022, addresses issues related to authorization conditions, client information, and order execution norms. Specific areas under scrutiny included compliance with organizational requirements, general principles and information addressed to clients, and the obligation of the best execution of clients’ orders. This settlement contributes to the Republic's Treasury, emphasizing CySEC's commitment to upholding financial regulations.?? ? Read More >>> https://lnkd.in/dpTEmxet? ? If you encounter any issues with your investment at Naga Markets, contact our attorneys >>> https://lnkd.in/dPP3UDb8? #CySEC #FinancialRegulation #NAGAMarkets #Settlement #InvestmentLaw #Compliance #FinancialCompliance #RegulatedMarkets #Cyprus #InvestmentServices #ClientInformation #OrderExecution #FinancialNews #TreasuryContribution #FinancialIntegrity #BestExecution #OrganizationalRequirements #FinancialTransparency #RegulatoryCompliance

?? The law should call a fraud, a fraud: Singapore settles the fraud test in Letters of Credit ?????In a landmark decision, Singapore’s apex court has affirmed a judgment that may impact how presentations are made under?letters of credit (LCs)?in international trade. The ruling, stemming from the Hin Leong Trading debacle, addresses a fundamental question: who should bear the risk of fraud in the complex web of international trade relationships? ?? Often described as the lifeblood of international commerce, a bank can only refuse payment under an LC if the documents are non-compliant or if the seller who seeks presentation, has presented documents fraudulently. This, in turn, raises what seems to be a more basic question but one that does not have a uniform answer at law: what constitutes?fraud, particularly when refusing payment under an LC.? ?? In our latest #TRADEFINANCETALKS magazine Sibos edition, Baldev Bhinder, Managing Director of Blackstone & Gold LLC, discusses Singapore’s pivotal ruling on fraud in Letters of Credit (LC) transactions—a crucial step for global trade finance. ?? Read the article link in the comments section below ?? ?? Keep an eye on our feed for exclusive coverage, insider insights, and all the latest updates from Sibos. Don’t miss a moment: https://lnkd.in/eKBqdUxe #Sibos #tradefinance #LetterOfCredit

Malaysia looks to crack down on financial scams. The Securities Commission Malaysia (SC) is stepping up its efforts to combat financial scams by stepping up its cross border collaborations following a staggering 321% increase in reported incidences over the past five years. Executive chairman Awang Adek Hussin said the Asia-Pacific Regional Cooperation (APRC), a part of the International Organization of Securities Commissions (IOSCO) regional committee, shared concern over the rising tide of financial scams. Speaking at the SC 2023 annual report press conference, he said at the most recent meeting of the committee in Hong Kong delegates were “very, very concerned about scams”. He said: “We thought that a project should be carried out to have greater sharing of information at APRC level. That is being done. We do a lot in terms of cooperation.” He added that that cooperation extended to restitution as well. According to its Annual Report 2023, the SC received 3,262 complaints and enquiries about scams and unlicensed activities last year, representing an increase of 321% over a five-year period (2019-2023). The SC received 774 complaints and enquiries on such activities in 2019. Read full news article on Malaysia's financial scams crackdown here - https://lnkd.in/eGJi-JuA #finance #crime #business #financialcrime #fraud #malaysia #news #government #strategy #asia #education #smes #criminals #qualifications