Enforcement

ICBC Shanghai Branch Deputy Under Investigation – Report

09/07/2019

Regulators have reportedly found ICBC’s Shanghai branch deputy head to be in violation of regulations related to fundraising and buying wealth management products.

Securities / Derivatives

SFC Strengthens Protections for Client Assets Held by AIs

09/07/2019

Intermediaries and AIs must sign an acknowledgement letter making clear that assets held in designated client asset accounts are protected from recourse.

Enforcement

PBOC Suspends Traders for ‘Abnormal’ Overnight Repo Transactions

09/07/2019

The trades involved overnight bond repo transactions in the interbank market at prices below normal market rates.

Securities / Derivatives

India Proposes Additional GIFT City Tax Incentives

08/07/2019

Existing tax incentives have been extended to 10 years from 5 years. New exemptions for dividend distribution tax and alternate investment funds also proposed.

Capital / Liquidity

India’s 2019 Budget Grants Lifeline to State Banks, NBFCs

08/07/2019

The government announced a fresh capital infusion for state banks, credit guarantees on NBFC assets, and stronger supervisory powers for the RBI.

Securities / Derivatives

SSE STAR Market to Start Trading on 22 July

08/07/2019

The Shanghai Stock Exchange has said the first batch of listings on the new science and technology innovation board will start trading on 22 July.

Market Infrastructure

Philippine SEC Drafts Framework for Cross-border Publication of Research

08/07/2019

Under the draft framework, capital market professionals authorised by the SEC can issue research reports in ASEAN countries that are MoU signatories: Malaysia, Singapore and Thailand.

Market Infrastructure

ASIC Updates Assessment Procedures for AFS Licence Applicants

08/07/2019

Licence applicants are now required to provide certain additional information and documents in their application to allow ASIC to ensure responsible officers are of good fame or character.

Securities / Derivatives

China to Launch New Futures Contracts

08/07/2019

China will launch futures contracts in urea, rubber and glutinous rice, and potentially stainless steel futures later in the year.