AML / KYC

Bangladesh Publishes New National AML/CFT Strategy

23/11/2019

The national strategy contains 11 strategies along with 137 action plans, aimed at eliminating gaps identified in the 2016 mutual evaluation report from the APG.

Securities / Derivatives

SEBI Approves New Rules for Portfolio Managers

23/11/2019

Among the rules are a higher net worth requirement for portfolio managers,  a doubling of the minimum investment requirement for PMS funds, and mandatory appointment of a custodian.

Bursa Malaysia to Restructure, Giving Greater Oversight to CEO

23/11/2019

The existing business leadership team will report directly to the CEO following the restructuring. The new structure becomes operational in January.

Capital / Liquidity

FSB Adds Toronto Dominion to G-SIBs List

23/11/2019

The addition of Toronto Dominion to the list brings the overall number of G-SIBs from 29 to 30. Deutsche Bank was moved to a lower bucket within the list.

Market Infrastructure

ACCC Authorises ABA Changes to Banking Code of Practice

23/11/2019

The ACCC’s authorisation was needed because changes to the Code to reflect the royal commission recommendations required competing banks to reach an agreement through the ABA.

Securities / Derivatives

SEBI Requires Listed Companies to Disclose Defaults Within 24 Hours

22/11/2019

Effective from 1 January, once a listed company falls 30 days behind on loan repayment it will have 24 hours to disclose the default, even before it is classified as an NPA by the lender.

Enforcement

ANZ, Westpac Face Class Actions Just Days After NAB Settlement

22/11/2019

Law firm Slater and Gordon has launched class actions against ANZ and Westpac over the sale of consumer credit insurance products, on the heels of winning a near A$50m settlement from NAB.

Market Infrastructure

Japan FSA Reviews Proposal to Reorganise Tokyo Bourse

22/11/2019

The proposal would recast the TSE’s existing boards into a “prime” market for blue chips, a “standard” market for mid-tier companies and a “growth” board for startups.

Aussie Banks Adopt Safeguards Against Unfair Debt Collection Practices

21/11/2019

The move comes after hundreds of vulnerable debtors who have had their homes put at risk in bankruptcy court this year over relatively small debts.