Structural Regulation

HKMA to Grant Virtual Banking Licences in Q1 2019

10/12/2018

The HKMA has provided an update on the processing of virtual banking applications, saying it will shortlist one-third of remaining applicants with an aim to granting licences in Q1 2019.

Capital Adequacy

APAC Banks Have Sufficient Buffers to Counter 2019 Risks – Moody’s

07/12/2018

Banks will face challenging conditions in 2019 due to moderating economic growth, slowing credit expansion and US-China trade tensions, but have adequate buffers against growing risks.

Supervision & Enforcement

Korean Regulators Become Latest Signatories to IOSCO EMMoU

07/12/2018

South Korea’s FSC and FSS have jointly become the 10th member of IOSCO’s EMMoU, which enables cross-border sharing of audit papers and telecommunications and internet records.

Cryptocurrency

Malaysia Clarifies Regulatory Treatment of Cryptocurrencies

07/12/2018

ICO issuers and digital asset exchanges will be regulated by the Securities Commission and subject to AML/CTF guidelines, as well as BNM laws and regulations relating to payments.

Market Abuse

Soros-Linked Fund Manager Fined in Hong Kong for Naked Short Selling

07/12/2018

SFM HK Management Ltd, owned by New York’s Soros Fund Management, was fined HK$1.5mn for short selling Great Wall Motors bonus shares before they were available for trading.

Trading & Investment

Shanghai-London Stock Connect Launch Delayed – Report

07/12/2018

The launch has reportedly been delayed in connection with a Brexit parliamentary vote and a lack of clarity from Chinese regulators on technical issues.

Anti-Money Laundering

G20 Nations Commit to Regulating Cryptocurrencies

06/12/2018

G20 nations have signed a joint declaration calling for regulation of crypto assets to combat money laundering and terrorist financing.

Payments & Settlements

SWIFT to Pilot Real-time Error Detection in gpi Payments

06/12/2018

SWIFT gpi pre-validation service will ensure preventable errors and omissions are corrected before initial payment instructions are sent, reducing delays and costs for banks.

Liquidity Risk

RBI to Reduce Statutory Liquidity Ratio Over 18 Months

06/12/2018

Starting in January 2019, the RBI will reduce the SLR holding requirement by 25 basis points every quarter until it reaches 18% in April 2020.