Structural Regulation

RBI Names Six ‘Significant’ Financial Benchmarks

06/01/2020

Financial Benchmarks India Pvt Ltd has three months to make an application to the RBI for authorisation to continue administering the benchmarks.

Fraud, Scams & Cybercrime

Korea: Lime Asset Faces Legal Action for Concealing Hedge Fund Losses

06/01/2020

Lime Asset Management suspended redemptions in three funds in October. One of them had 240bn won invested with New York-based IIG, which has since been charged with securities fraud.

Structural Regulation

Philippines Approves Introductory Rules for Islamic Banking

06/01/2020

The BSP has released guidelines for the establishment of Islamic banks and Islamic banking units in the Philippines, along with a newly-approved Shari’ah governance framework.

Emerging Prudential Risks

BNM Issues Revised Equity Exposure Rules for FIs

06/01/2020

Financial institutions need BNM’s prior written approval to acquire or hold 20% or more of the voting shares or voting power in a corporation. Compliance is required by 31 December 2021.

Clearing & Post-Trade

SZSE, CSDC Issue Implementing Rules for ‘Full Circulation’ of H-Shares

06/01/2020

Full circulation will allow shareholders of mainland companies to convert non-tradeable, domestically-held shares into H-shares for trading in Hong Kong.

Market Data & Technology

Shanghai Bourse Launches New Market Surveillance System

06/01/2020

The new monitoring system will enhance the effectiveness of front-line supervision, ensure fair transactions, and promote the stable and healthy development of the capital market, the SSE says.

Trading & Investment

Philippine SEC Approves Implementing Guidelines on Short Selling

06/01/2020

The new implementing guidelines address concerns over the effect of SBL and short selling transactions on trading participants’ books and records, error transactions, and capital adequacy.

Anti-Money Laundering

CBIRC Tightens Scrutiny of AML/CTF Programmes at Banks, Insurers

06/01/2020

Banks and insurers are required to submit annual reports on their AML/CTF programmes within 20 working days after the end of each year. For 2019, the reports should be submitted by 15 February 2020.

Operational Risk

Australian Banks Offer Emergency Relief to Bushfire Victims

05/01/2020

The services being offered by ABA member banks to help customers include fee waivers, loan repayment deferrals, and additional financing to help cover cash flow shortages.