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Banks ‘Must’ Pass on Reduce Rates to Borrowers: CBSL
By Duruthu E Chandrasekera | 10/07/2020
Sri Lanka’s central bank has cut interest rates again and is ramping up pressure for banks to reduce the rates they charge borrowers, particularly small businesses.
AML / KYC
Chinese Banks Plan for Possible US Sanctions – Report
By Editors | 09/07/2020
Bank of China and ICBC are reportedly preparing for worst-case possibilities that they could be cut off from US dollars or lose access to US dollar settlements.
AML / KYC
New York Regulator Fines Deutsche Bank for AML Failures
By Editors | 08/07/2020
Deutsche Bank has been fined $150mn for its dealings with known sex trafficker Jeffrey Epstein and its correspondent banking relationships with Danske Bank Estonia and FBME Bank.
Securities / Derivatives
New Bill Could Ban Some Chinese Firms from US Capital Markets
By Editors | 06/07/2020
The bill would reportedly seek to ban Chinese companies that engage in spying or human rights abuse, or support China’s military or industrial policy.
AML / KYC
Global Banks Seek Clarity on ‘Hong Kong Autonomy Act’
By Editors | 05/07/2020
Under the legislation, banks can be penalised for conducting a ‘significant transaction’ with Chinese individuals or entities named as having contributed to the erosion of Hong Kong’s autonomy.
Securities / Derivatives
Sri Lanka Bourse to Introduce Easier Listing Rules from 15 July
By Duruthu E Chandrasekera | 04/07/2020
Requirements on capital, profitability and net assets have been relaxed to pave the way for new listings from start-ups and tech firms.
Fintech / Regtech
BIS Innovation Hub Can Draw Lessons from GFIN
By Manesh Samtani | 03/07/2020
As the BIS Innovation Hub widens its reach, success will rely on its ability to cultivate a supportive ecosystem which includes financial institutions and innovators alike.
Securities / Derivatives
SGX to Launch New Taiwan Index Futures Contract
By Editors | 01/07/2020
The launch will help meet the rising demand of US and European investors for access and investment exposure to Taiwan, said SGX Head of Equities Michael Syn.
Market Infrastructure
Philippine SEC Seeks Independent Board at Stock Exchange
By Editors | 01/07/2020
The Philippine Stock Exchange currently has three independent directors on its 15-seat board. Under the proposed rules, a majority of the directors will have to be independent.
AML / KYC
National Security Legislation Promulgates in Hong Kong
By Editors | 30/06/2020
A legislative notice has been posted in the Hong Kong gazette, saying the national law applies in the city as part of the Basic Law from 11pm on 30 June 2020.
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