Posts By Editors, Regulation Asia
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157ChinaGoldman, Morgan Stanley Approved to Control China Securities JVs
The two US banks have approval to raise their stakes in their securities joint ventures to 51%. On 1 April, foreign ownership caps for securities firms and fund managers will be scrapped entirely.
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338Capital RegulationBasel III Implementation Timelines Deferred in Response to Covid-19
The implementation date of the outstanding Basel III standards will be deferred by one year to 1 January 2023 to free up operational capacity for banks and supervisors.
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367Capital RegulationRBI Announces Broad Measures to Address Covid-19 Financial Stress
The measures include a 3 month moratorium on term loans, deferred interest on working capital loans, $50bn worth of liquidity measures, and 6-month delays of the NSFR and CCB.
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451Hong KongHong Kong to Update List of FSPs Under Clearing Obligation
Eight additional entities are proposed to be included on the list of Financial Services Providers under the OTC derivatives clearing regime.
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391ChinaCBIRC Issues New Rules for Insurers’ Asset Management Products
Insurance asset management products may not invest more than 35% of net assets in shadow banking assets, and may not invest in commercial banks' credit assets directly.
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399Australia & NZNew Zealand Delays New Financial Advice Regime
The new regime will be deferred until at least March 2021, allowing financial advisers to focus on helping their clients, staff and families during "this difficult time", the FMA says.
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401Australia & NZAustralia: Super Funds Seek Liquidity Backstop Facility
The government will allow individuals in financial stress to access superannuation savings, but may have underestimated the ability of super funds to meet withdrawals.
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388EnforcementWoori Financial Chief Gets Reappointment Despite FSS Sanctions
A Seoul court has granted an injunction against FSS sanctions that would have prevented chairman Sohn Tae-seung from seeking another term at Woori Financial Group.
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351ChinaChina to Enhance Oversight of National Bad Debt Managers
The reforms are said to be in part aimed at shielding the Ministry of Finance from risk. The Ministry is the largest shareholder of each of the national AMCs.
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364FeatureSFC Steps Up Scrutiny of Fund Industry Amid Recent Volatility
The SFC reminds managers, trustees, custodians and intermediaries of funds to look out for clients interests amid "unprecedented volatility across asset classes".
