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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