Enforcement

Macquarie Securities Penalised for Submitting Incorrect Regulatory Data

03/06/2019

Over 4 years, approximately 42 million orders containing incorrect or omitted regulatory data were submitted to ASX and Chi-X.

Capital / Liquidity

S. Korea Tightens Lending Standards in Non-Bank Sector

03/06/2019

The FSC will extend the debt service ratio to include non-bank financial institutions in a bid to rein in household debt.

Market Infrastructure

FSB Details Progress to Address Decline in Correspondent Banking

03/06/2019

The number of active correspondent banks declined by 3.4% in 2018, bringing the cumulative decline since 2011 to 19.3 percent.

Big Picture

Industry Body Publishes Best Practices Paper for CCPs

03/06/2019

Global association CCP12 says in a new paper that a ‘one-size-fits all’ approach to CCPs is inappropriate, and it is critical to recognise jurisdictional differences.

Crypto / Digital Assets

ASIC Updates Guidance for ICO, Crypto-Asset Issuers

02/06/2019

The guidance tells issuers how to determine whether an ICO or crypto-asset is considered a financial product, and which Australian laws would apply.

Market Infrastructure

FSC Korea Proposes More Flexible Business Conduct Rules

02/06/2019

‘Chinese walls’ at financial firms will be set up around ‘information units’ rather than ‘business units’. Firms can entrust a broader range of business to third parties and IT firms.

Securities / Derivatives

SFC Asks Licensed Firms to Review Controls on Third-Party Deposits

01/06/2019

Senior management will be held accountable for failures to put in place effective policies, procedures and controls for handling third-party deposits and payments.

AML / KYC

Financial Crime on the Rise in APAC

31/05/2019

Almost three-quarters of Asia Pacific organisations have been victims of financial crime in the past year, according to recently published survey results by Refinitiv.

Market Infrastructure

PBOC Sets Up AMC to Manage Deposit Insurance Fund

31/05/2019

The PBOC has reportedly established an independent entity to manage the deposit insurance fund, which was set up in 2015 and has so far accumulated 100 billion yuan.