Big Picture

Short-selling Bans Fail to Achieve Positive Effects: WFE

31/03/2020

In Asia, South Korea, Malaysia and Indonesia have imposed short-selling bans, while Thailand, Taiwan and India have tightened their rules to make the practice more difficult.

Capital / Liquidity

PBOC Cuts Rates as Banks Prepare for More Bad Debt

31/03/2020

Small- and mid-sized banks are likely to struggle more as they have less capital in reserve and fewer state borrowers they can call on.

Capital / Liquidity

Malaysia: Lenders Need Not Assume Higher ECL for Rescheduled Debt

26/03/2020

Given that regulatory action is driving debt rescheduling, lenders need not simply assume lifetime expected credit losses under MFRS 9 are relevant for all receivables.

AML / KYC

Holding the Line on Ultimate Beneficial Ownership

24/03/2020

Financial institutions need to ensure that UBO information on customers is complete and accurate, but this is only half the battle, says Refinitiv’s Phillip Malcolm.

Securities / Derivatives

MAS Revises Code on Collective Investment Schemes

16/03/2020

The changes extend the requirements imposed on approved trustees and managers to VCCs, VCC directors and VCC custodians, while also introducing a best interest duty.

Big Picture

ASIFMA Calls for Global Coordination of Sustainability Efforts

03/03/2020

Fragmented approaches to sustainable finance may ultimately undermine the development of sustainable finance through increased complexity and lack of coordination.

AML / KYC

AML Controls Are Ineffective at Stopping Crime, Says Policy Expert

02/03/2020

Policy effectiveness expert Dr Ronald F Pol says the current anti-money laundering system only results in 0.1% of the proceeds of crime actually being seized.

AML / KYC

Financial Secrecy Index Ranks Hong Kong, Singapore in Top Five

02/03/2020

The Tax Justice Network has released its 2020 rankings of jurisdictions according to their secrecy and the scale of their offshore financial activities.

Market Infrastructure

MAS 610/1003 Pilot Testing Gateway Set for April Launch

02/03/2020

A six-month parallel reporting phase for the new MAS 610/1003 returns was meant to start from 1 April, but this was pushed forward by three months earlier in the year.