Big Picture

Credit Stress Tests Critical to Safeguarding CCPs

03/08/2020

Stress testing is a crucial tool within a CCP’s toolbox for ensuring the stability, safety, and resilience of the financial market, says a new paper from CCP12.

AML / KYC

EU Imposes First Sanctions Against Cyber Attackers

03/08/2020

Measures will be taken against six individuals and three entities, including travel bans, asset freezes, and a prohibition on obtaining funding from the EU.

Fintech / Regtech

HKMA, BIS Innovation Lab Seek Solutions in Trade Finance

03/08/2020

Private firms are invited to submit innovative solutions that can help enhance trade finance mechanisms, connectivity and infrastructure.

AML / KYC

China Mulls Allowing Domestic PE Funds to Invest Overseas

03/08/2020

The foreign exchange regulator will this year explore reforms to allow private equity investment funds to invest overseas.

Market Infrastructure

Australia Consults on Reforms to Foreign Investment Framework

03/08/2020

Foreign investors will face national security checks regardless of the value of their investments, subject to enhanced monitoring, investigative and enforcement powers of the Treasury.

Fintech / Regtech

PBOC Pushes for Antitrust Probe into Alipay, WeChat Pay

03/08/2020

The State Council’s antitrust committee has reportedly been collecting information on the two payments giants for over a month but has not yet decided whether to launch a probe.

Enforcement

ATO Commences Pilot Audit of Early Super Withdrawal Scheme

03/08/2020

The tax office is contacting Australians who withdrew their superannuation funds early to assess if the need was genuine, and whether they should be penalised.

AML / KYC

Ex Coutts Banker Fined Over $700m 1MDB Transfer

03/08/2020

The former Coutts & Co banker approved a $700mn transfer request from Jho Low, the alleged mastermind behind the 1MDB scandal, despite repeated red flags.

Securities / Derivatives

HKMA Relaxes Rules on Retail Sales of Government Bonds

02/08/2020

Banks can forgo suitability assessments and audio recordings when distributing low-risk, non-complex retail tranches of Hong Kong or Mainland government bonds.