Anti-Money Laundering

PBOC to Regulate Large Cash Transactions in 2yr Pilot Programme

15/06/2020

Hebei, Zhejiang and Shenzhen will participate in a two-year pilot programme where large cash transactions beyond a fixed threshold will have to be registered.

Structural Regulation

RBI Reassesses Ownership, Control, Governance at Private Sector Banks

15/06/2020

The RBI has released a discussion paper proposing reforms to improve bank governance, and has formed a working group to review rules on private sector bank ownership and control.

Structural Regulation

China Finalises New IPO Rules Shenzhen’s ChiNext Board

15/06/2020

Under the new market-based IPO pricing system, companies seeking a ChiNext listing will have to abide by stricter information disclosure rules, but will no longer require CSRC approval.

Liquidity Risk

S. Korea Unveils New Corporate Asset Purchase Programme

15/06/2020

KAMCO, a state-run distressed asset manager which was deployed during the 1997 financial crisis, will set up a special purpose vehicle to buy up corporate assets for fair market prices.

Data Privacy

FSC Korea Outlines Key Policy Tasks for H2 2020

14/06/2020

The measures include continued support for businesses and individuals, with some focus being diverted back to pre-Covid policy work to support innovation and data-driven initiatives.

Clearing & Post-Trade

EC Proposes Simplified Approach to Supervising Non-EU CCPs

14/06/2020

Under the new approach, third-country CCPs that are not deemed systemically important will only be subject to basic ESMA supervision, relying on ‘comparable compliance’.

Conduct, Culture & Accountability

ASIC Issues Guidance on Listed Company Executive Pay Decisions

14/06/2020

The high-level guidance set out specific factors boards and remuneration committees should consider when exercising discretion on executive variable pay in the current environment.

Payments & Settlements

RBI Updates Oversight Framework for FMIs, Retail Payment Systems

14/06/2020

The framework details the oversight objectives, supervisory processes and assessment methodology the RBI will apply to financial market infrastructures and retail payment systems.

Trading & Investment

CSRC Green-lights Trading in Six New Commodity Options Contracts

14/06/2020

The ZCE will launch trading steam coal options; the DCE will launch polypropylene, PVC and LLDPE options; and the SHFE will launch aluminum and zinc options.