Market Infrastructure

FCA Extends Deadline for Lenders to Stop Issuing New LIBOR Loans

30/04/2020

The deadline extension for lenders is a response to Covid-19, as the FCA seeks to avoid disrupting the flow of loans to help companies stay afloat during the pandemic.

Capital / Liquidity

FSC Korea Defers Tighter Supervision of Financial Conglomerates

30/04/2020

The FSC has approved revisions to enhance capital adequacy assessments, internal control systems, and disclosure standards of financial conglomerates.

Hong Kong Records Higher Negative Equity Mortgage Loans

30/04/2020

The negative equity loans are related to housing loans provided to bank staff or under mortgage insurance programmes, which tend to have higher loan-to-value ratios.

Enforcement

ASIC Quadrupled Criminal Charges Laid in H2 2019

30/04/2020

In the six months to December 2019, ASIC did not have any new enforceable undertakings, reflecting its post-Royal Commission ‘why not litigate’ approach to enforcement.

SFC Offers Guidance on Cyber Risk of Remote Office Arrangements

29/04/2020

In a circular, the SFC sets out examples of controls and procedures to help licensed corporations protect their internal networks and data.

AML / KYC

FATF Postpones Mutual Evaluations, Follow-up Deadlines

29/04/2020

All mutual evaluations and follow-up deadlines are postponed, and FATF will review grey-list jurisdictions in October rather than June as previously scheduled.

AML / KYC

G20 TechSprint Invites Firms to Develop Regtech, Suptech Solutions

29/04/2020

Private firms are invited to develop solutions to improve regulatory reporting, crypto asset AML monitoring, and supervisory information sharing.

Big Picture

Banking Regulation, Innovation Responsible for Shadow Bank Growth

29/04/2020

Regulatory burden on banks and technological improvements are likely the two most important factors behind shadow bank growth, a new paper says.

AML / KYC

PBOC Penalties for AML Violations Spike in Q1 2020

29/04/2020

The increase in penalties is in part the result of a new calculation method in use at the PBOC, where penalties can now accumulate when multiple breaches occur at once.