AML / KYC

Mizuho Ordered to Pay Caymans-related Back Taxes and Penalty

28/11/2019

The bank is disputing the penalty, saying its Caymans subsidiaries were created for as a special vehicle for fundraising, and not to conceal profits or evade taxes.

Securities / Derivatives

SGX Enhances Securities Borrowing and Lending Programme

28/11/2019

Effective from 2 December, new variable rates will make it more attractive for institutional investors to borrow securities, increasing the opportunity for securities holders to generate income.

Capital / Liquidity

China Publishes Draft Framework for D-SIB Assessments

28/11/2019

Moody’s says the regulation may widen credit divergences between large and small banks, as the latter are less likely to receive less government support.

Market Infrastructure

China Eyes Stronger Data Governance Standards for Financial Sector

28/11/2019

The China Banking Association is working to develop technology standards to facilitate data analysis, while also ensuring adequate security and data quality management.

Enforcement

UK Regulator Penalises Citigroup for Reporting Failures

28/11/2019

Citi’s UK failings led to “significant errors” in the firms’ returns, preventing the Prudential Regulation Authority from obtaining an accurate picture of its capital or liquidity position.

Securities / Derivatives

Indian Exchanges Issue New Framework for Listing Commercial Paper

28/11/2019

The listing framework for commercial papers will lead to more transparency, a better disclosure regime and greater investor protection.

AML / KYC

ANZ Offers Assurances as Industry Faces AML Scrutiny

28/11/2019

As the industry comes under fire for AML/CTF violations, ANZ Bank has issued a statement confirming it is reviewing its own systems and has not found any material issues to date.

ASIC to Take ‘Facilitative Approach’ to FASEA Code Compliance

27/11/2019

ASIC has clarified its expectations of AFS licensees and financial advisers for compliance with the FASEA code starting from 1 January.

Capital / Liquidity

Quota Depletion Forces Mortgage Lending Halts in Shenzhen

27/11/2019

China Construction Bank, Bank of China and Ping An Bank have reportedly halted mortgage lending in Shenzhen, having depleted their 2019 quotas.