SFC bans Kwok Chau Mo for nine months
SFC News, 28 May 2020
The Securities and Futures Commission (SFC) has banned Mr Kwok
Chau Mo, a former fund manager of Guosen Securities (HK) Asset Management
Company Limited (GSHKAM), for nine months from 28 May 2020 to 27 February 2021.
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“Fairness Metrics” to Aid Responsible AI Adoption in Financial
Services
MAS News, 28 May 2020
The Monetary Authority of Singapore (MAS) announced today that
the first phase of the Veritas [1] initiative - a framework for financial
institutions to promote the responsible adoption of Artificial Intelligence and
Data Analytics (AIDA) - will commence with the development of fairness metrics
in credit risk scoring and customer marketing. These metrics will help
financial institutions validate the fairness of their AIDA solutions in the two
use cases. More use cases will be identified in subsequent phases of the
initiative.
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SPF, IMDA and MAS Block Unregulated Overseas Online
Trading Platform
MAS News, 28 May 2020
The Singapore Police Force (Police), the Infocomm Media
Development Authority (IMDA) and the Monetary Authority of Singapore (MAS),
have taken action to block the website of an unregulated trading platform,
Arotrade. Police investigations revealed that Arotrade has been linked to
fraudulent marketing tactics, including the use of fake news articles falsely
claiming that prominent individuals, including Singapore’s Political Office
Holders, have endorsed investments in cryptocurrency, which misled and
channelled people to Arotrade’s website.
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ESMA Updates Q&As on MIFID II Investor Protection
ESMA News, 28 May 2020
The
European Securities and Markets Authority (ESMA), the EU's securities markets
regulator, has today updated its Questions and Answers on the implementation of
investor protection topics under the Market in Financial Instruments Directive
and Regulation (MiFID II/ MiFIR).
Full
Text: Click Here
ESMA Updates its Questions and Answers on the Securitization Regulation
ESMA News, 28 May 2020
The
majority of the new Q&As in this document provide clarification on
different aspects of the templates contained in the draft technical standards
on disclosure which are published on the website of the European Commission.
Full
Text: Click Here
Unregistered $25.5 Million ICO Issuer to Return Money for
Distribution to Investors
US SEC, 28 May 2020
The
Securities and Exchange Commission today announced charges against blockchain
services company BitClave PTE Ltd. headquartered in San Jose, California, for
conducting an unregistered initial coin offering (ICO) of digital asset
securities. BitClave agreed to settle
the charges by returning proceeds from the offering and paying additional
monetary relief to be distributed to investors through a Fair Fund.
Full
Text: Click Here
