SEBI Approves Proposals to Tighten Investment Adviser Regulation

21/02/2020

The proposals approved include higher net worth requirements for investment advisers, a cap on fees, and segregation of investment advice from product distribution.

Securities / Derivatives

PBOC Issues Draft Rules on Standardised Notes Issuance

21/02/2020

The draft rules seek to standardise the instrument and improve its utility as a financing channel for SMEs, while also setting out supervisory measures and applicable rights to protect investors.

Capital / Liquidity

Basel IV to Impact APAC Banks Unevenly: Moody’s

20/02/2020

‘Basel IV’ will narrow the gap between the internal ratings based approach and the standardised approach for calculating risk-weighted assets.

Market Infrastructure

European Commission Launches MiFID II Review

20/02/2020

The introduction of a consolidated tape and enhancements to investor protection are high priority items in the review.

Market Infrastructure

India Cabinet Approves SEBI-FCA Updated AIFMD MoU

20/02/2020

The updated MoU substitutes references to EU legislation with the relevant UK law, pursuant to the UK’s exit from the EU on 31 January.

AML / KYC

Huawei Alleges HSBC Continued Evading Sanctions After 2012 DPA

20/02/2020

HSBC continued to evade Iran sanctions after its 2012 deferred prosecution agreement with the US Department of Justice, Huawei lawyers say in a letter to a New York District Court.

Enforcement

Taiwan FSC Fines Cathay Life for Lax Sales Controls

20/02/2020

Cathay Life failed to improve its internal controls for sales agents and its insurance underwriting mechanism despite complaints from 14 customers.

Enforcement

Lime Asset, Shinhan Investment Raided in Hedge Fund Misselling Probe

20/02/2020

Investigators were dispatched to both firms to secure computer drives and documents linked to alleged misselling and fraud at both firms.

Fintech / Regtech

Thailand, Cambodia Launch Cross-Border QR Payments

20/02/2020

New payments connectivity between the two countries is expected to promote trade, tourism, financial inclusion, and the usage of local currencies in cross-border transactions.