On 2 February, SARB imposes sanctions on China Construction Bank. South African Reserve Bank (SARB) imposes administrative sanctions on China Construction Bank Corp. Johannesburg Branch for non-compliance with the Financial Intelligence Centre Act 38 of 2001 (FIC), as amended. SARB has directed the Bank to take remedial action. SARB Inspection SARB conducted an inspection in…
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Hong Kong – SFC Best Execution Guide
On Jan. 30, HK SFC issued guidance on conduct for best execution. Issued thematic review of best execution, and effectiveness of control practices. Summary Set standards of conduct, internal controls expected in delivering best execution. Licensed corporations (LCs) should execute client orders on best available terms. Fundamental to market integrity, protect investors, LCs act in…
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