Reporting & Disclosures

Taiwan FSC Releases Corporate Governance, Sustainability Roadmap

26/08/2020

From 2024, all financial firms and listed companies with paid-in capital over $340mn will be required to have at least one-third of their boards made up of independent directors.

Trading & Investment

Philippines Issues Rules on New Investment Vehicle for Corporate Debt

26/08/2020

Corporate Debt Vehicles can issue securities to invest in bonds, notes or commercial papers issued by large corporations and medium-sized enterprises.

Structural Regulation

ASIC Allows ‘Frozen Funds’ to Pay Out Hardship Relief to Members

26/08/2020

The hardship relief will make it easier for responsible entities of frozen funds to enable withdrawals by investors suffering hardship, says ASIC’s Karen Chester.

PEPs & Sanctions

US Sanctions Chinese Individuals, Entities Over South China Sea

26/08/2020

The US accuses one Chinese state-owned enterprise of engaging in “corruption, predatory financing, environmental destruction, and other abuses across the world.”

Market Abuse

Singapore CEO Fined Over ‘Interested Person’ Transactions

26/08/2020

Under the Securities and Futures Act, mainboard companies must immediately announce interested person transactions worth over 3% of tangible assets.

Structural Regulation

New P2P Lending Legislation Takes Effect in Korea

26/08/2020

Under the law, P2P lenders must meet new capital requirements and be registered with the FSC. Consumer protection is also enhanced.

Fraud, Scams & Cybercrime

SFC Imposes Lifetime Ban on Former China Citic Bank Employee

26/08/2020

The former relationship manager is said to have falsely represented to customers that an additional fee was needed to open an account with CITIC – which he then pocketed.

Trading & Investment

Thailand SEC to Allow Repo, Reverse Repo Trades by Retail Investors

25/08/2020

Allowing repo and reverse repo trades in listed securities and unit trusts with all investor types will provide them additional liquidity management tools, the SEC said.

Resolution & Recovery

FSB Publishes ‘Key Attributes’ Assessment Methodology for Insurance

25/08/2020

The methodology will guide the assessment of how well a jurisdiction’s insurance resolution framework aligns with the FSB’s Key Attributes for effective resolution regimes.