Supervision & Enforcement

China Criminalises Loans with Annual Interest Over 36pc

23/10/2019

All agency fees, consulting fees, management fees and default penalties will be included in the interest rate calculation, effectively lowering the threshold.

Anti-Bribery & Corruption

More Shanghai Bank Executives Assisting in Corruption Probes

23/10/2019

The current and former Shanghai chiefs of Ping An Bank and the Suzhou branch head of China Guangfa Bank are assisting in an anti-graft probe linked to former CSRC chairman Liu Shiyu.

Anti-Money Laundering

FATF Removes Sri Lanka from ‘Grey List’; Pakistan to Remain

23/10/2019

Sri Lanka has made “significant progress” to address strategic AML/CFT deficiencies; Pakistan has only largely addressed 5 of 27 action items and has failed to meet agreed deadlines.

Structural Regulation

China Eases Rules on Backdoor Listings for Some Firms

23/10/2019

Assets in high tech and strategically important emerging sectors that “conform to the national strategy” can be used to restructure ChiNext companies, the CSRC says.

AI Risk & Governance

Suptech Gains Momentum but Approaches Vary: FSI Paper

23/10/2019

Suptech use cases have mainly clustered around misconduct analysis, reporting and data management, according a new paper from the BIS Financial Stability Institute.

Capital Adequacy

Recession Fears Prompt Japan to Stress Test Major Financial Firms

22/10/2019

The BOJ and FSA will jointly coordinate stress tests on Japan’s three G-SIBs and four D-SIBs to assess how capital and liquidity could be affected if stocks fell and the yen spiked.

Market Abuse

FSC Korea to Raise Penalties for Illegal Short Selling

22/10/2019

On top of the higher penalties for illegal short selling, the FSC will penalise violators extra if they are found to have also engaged in unfair dealing.

Conduct, Culture & Accountability

SEBI’s Final Rules for Resigning Auditors Take Effect

22/10/2019

Auditors proposing to resign must first report all of the issues that may be hindering the audit process to the audit committee of the listed company.

Supervision & Enforcement

MAS, CBIRC Enhance Cross-Border Supervisory Cooperation

22/10/2019

The MOU will enhance supervisory cooperation and facilitate information exchange between the two regulators in the areas of banking and insurance supervision and crisis management.