Conduct, Culture & Accountability

ASIC Bans Ex-AMP, NAB Adviser for Four Years

09/01/2020

An ASIC review of advice files found a failure to make sufficient inquiries into client circumstances and existing financial products when providing advice.

Structural Regulation

BOT Directs Banks to Adopt Fairer Fee Structures

09/01/2020

Banks are instructed to lower the interest costs and fees loan prepayments and late repayments, and to adopt grace periods to reduce borrower burdens.

Fraud, Scams & Cybercrime

Nine Korean Banks Face Legal Action for Selling Loss-Making Funds

09/01/2020

Investors are reportedly preparing for a suit against banks which sold them loss-making funds from Lime Asset Management without properly disclosing the risks.

Cloud & Infrastructure

China to Enhance Regulatory System for Fintech Development

09/01/2020

The PBOC is looking to enhance its digital supervision capabilities and improve risk governance in fintech development across the financial sector.

Cloud & Infrastructure

UK Financial Regulators Announce Data Reform Proposals

09/01/2020

The FCA has set out a plan to become a ‘highly data-driven regulator’. The BOE has published a discussion paper on transforming data collection.

Trading & Investment

ASX Consults on Changes to Trade Cancellation Policy

09/01/2020

ASX proposes to amend its trade cancellation policy for ASX 24 options and for the 20 Year Bond Futures contract to provide participants greater flexibility.

Clearing & Post-Trade

Japan FSA Grants Client Clearing Licence to HKEX

09/01/2020

HKEX has announced that its central counterparty subsidiary, OTC Clear, has received approval to offer client clearing services to banks in Japan.

Emerging Prudential Risks

CBIRC Issues Guidance on Banking, Insurance Sector Development

08/01/2020

The guidance sets 5-year targets for banks and insurers to improve in areas such as governance, risk management, financial product development and fintech innovation.

Trading & Investment

CSRC to Allow Fund Managers to Invest in NEEQ Stocks

08/01/2020

To trade NEEQ stocks, fund managers should have investment and research capabilities, and strong liquidity risk management, due diligence and internal control systems.