Payments & Settlements

WeLab Bank Announces Public Launch of Virtual Banking Services

30/07/2020

WeLab Bank was the only stand-alone company to win a virtual bank licence from the HKMA. It commenced pilot services in April.

Conduct, Culture & Accountability

Malaysia Issues Director Conduct Guidelines for Listed Issuers

30/07/2020

The guidelines set out the obligations of directors of listed companies and their subsidiaries, and requirements for the establishment of group-wide frameworks.

PEPs & Sanctions

China Should Reduce SWIFT Use in Case of US Sanctions – Report

30/07/2020

China should prepare for potential US sanctions by increasing the use of CIPS for cross-border transactions, and by developing legislation similar to the EU’s blocking statute.

Credit Risk

BNM: Banks Agree on Flexible Approach to Loan Repayments

29/07/2020

As the blanket loan moratorium announced in March is due to end, banks have agreed to provide borrowers various repayment flexibilities depending on their specific circumstances.

Fraud, Scams & Cybercrime

HK Police Arrest Five in Transnational Credit Card Fraud Probe

29/07/2020

The syndicate members allegedly used credit card details stolen from cardholders in Singapore, US and Europe to make fraudulent online purchases of electronic products in Hong Kong.

Credit Risk

BSP Excludes Market-making Activities from Single Borrower Limit

29/07/2020

Debt securities acquired by banks from market-making activities will be excluded from the single borrower’s limit computation for 90 calendar days from the time of acquisition.

Market Abuse

SEBI Offers One-time Settlement for 500+ Errant Brokers

29/07/2020

SEBI identified instances where trading participants were consistently making losses on stock options trading, only to reverse the losses later in the day or the next day.

Clearing & Post-Trade

ESMA Set to Defer CSDR’s Settlement Discipline Regime

29/07/2020

The European Commission asked ESMA to consider a one-year deferral in light of operational pressures on firms and other market developments amid the Covid-19 pandemic.

Capital Adequacy

MAS Asks Singapore-headquartered Banks to Cap Dividends

29/07/2020

Locally-headquartered banks are asked to cap fiscal 2020 dividends as a pre-emptive measure to ensure sustained lending given “significant uncertainties” ahead.