Credit Risk

PBOC Removes Limits on Credit Card Rates – Report

17/01/2021

The new policy is expected to benefit smaller card issuers and encourage competition from internet platforms and tech giants.

KYC & CDD

SEBI Proposes New Process for KYC in Securities Market

17/01/2021

Under the proposal, KYC Registration Agencies, stock exchanges and depositories would be responsible for client KYC processes.

Data Privacy

30 Firms Reprimanded Over Data Privacy Violations in Guangdong

16/01/2021

The Guangdong Communications Administration ordered 30 firms including banks and securities firms to fix the breaches and revamp their mobile phone apps.

Reporting & Disclosures

Korea to Require ESG Disclosures from Listed Companies

15/01/2021

Large companies will have to disclose ESG information from 2025. This will expand to all KOSPI-listed companies from 2030.

Clearing & Post-Trade

Calls to Recalibrate CCP Margin Models Are Misplaced: WFE

14/01/2021

The procyclicality of initial margin models is a property of the system as a whole and so requires system-wide solutions, the WFE says in a new paper.

Structural Regulation

Philippine SEC Approves First Crowdfunding Platform

14/01/2021

Investree Philippines is the first crowdfunding intermediary and funding portal to register with the SEC since rules covering the activity took effect in July 2019.

Credit Risk

RBI Warns of Deteriorating Asset Quality, Capital Buffers

14/01/2021

Stress tests indicate 4 banks may fail to meet minimum capital requirements by September 2021 under the baseline scenario.

Credit Risk

Chinese Regulators to Force Ant, Tencent to Share Borrower Data

14/01/2021

Ant Group affiliate Alibaba and Tencent have so far been resistant to sharing their loan data with credit databases such as Baihang.

Payments & Settlements

PayPal Acquires Full Control of China Payments Business

14/01/2021

PayPal is the first foreign firm to own a 100% stake in a payment platform in China, having obtained a licence to operate in the country a year ago.