Custody & Infrastructure

ICMA Publishes DLT Regulatory Directory and Brief

23/12/2019

The directory and brief seek to provide a non-exhaustive overview of recent DLT regulatory guidance, legislative initiatives, strategy papers and other publications in selected jurisdictions.

Anti-Money Laundering

Westpac Faces Shareholder Class Action for Possible Disclosure Failures

23/12/2019

The class action, filed by law firm Phi Finney McDonald, will rest on whether Westpac breached disclosure obligations or misled investors about the extent of its AML compliance failures.

Credit Risk

APRA Modifies Large Exposures Framework for ADIs

23/12/2019

APRA has extended the exemption for government-related entities to connecting counterparties involving economic interdependence and control relationships.

Trading & Investment

Taiwan Eases Registration Rule for Foreign Employee Investment Accounts

23/12/2019

The overseas parent, subsidiary, branch office or representative office of Taiwan-listed companies may adopt the identity of a foreign institutional investor to register collective investment accounts for their overseas foreign employees.

Conduct, Culture & Accountability

ASIC Reports High Levels of FX Global Code in Wholesale Markets

23/12/2019

In a new report, ASIC highlights its observations of good and poor practices used by participants operating in the wholesale foreign exchange market.

Conduct, Culture & Accountability

ASIC Issues Draft Guidance on Product Design Obligations

21/12/2019

From April 2021, design and distribution obligations will require issuers to focus on meeting consumer needs when designing, marketing and distributing financial products.

Structural Regulation

SFC, CSRC Set Date for Southbound Investor Identification Regime

20/12/2019

With technical preparations now complete at exchanges and clearinghouses, southbound trading investor identification regime is scheduled for implementation on 13 January.

Structural Regulation

Indonesia Integrates Nine Bank Reports into Single Mechanism

20/12/2019

The integration aims to minimise redundant and inconsistent information, while simultaneously improving bank operational efficiency and the quality of reported data.

Trading & Investment

UPDATED – BOJ to Boost ETF Market Liquidity by Lending Holdings

20/12/2019

The ETF lending facility is likely to reduce ETF bid/ask spreads and provide an easy way to short the Japanese market.