Emerging Prudential Risks

BNM Issues Revised Equity Exposure Rules for FIs

06/01/2020

Financial institutions need BNM’s prior written approval to acquire or hold 20% or more of the voting shares or voting power in a corporation. Compliance is required by 31 December 2021.

Clearing & Post-Trade

SZSE, CSDC Issue Implementing Rules for ‘Full Circulation’ of H-Shares

06/01/2020

Full circulation will allow shareholders of mainland companies to convert non-tradeable, domestically-held shares into H-shares for trading in Hong Kong.

Market Data & Technology

Shanghai Bourse Launches New Market Surveillance System

06/01/2020

The new monitoring system will enhance the effectiveness of front-line supervision, ensure fair transactions, and promote the stable and healthy development of the capital market, the SSE says.

Trading & Investment

Philippine SEC Approves Implementing Guidelines on Short Selling

06/01/2020

The new implementing guidelines address concerns over the effect of SBL and short selling transactions on trading participants’ books and records, error transactions, and capital adequacy.

Anti-Money Laundering

CBIRC Tightens Scrutiny of AML/CTF Programmes at Banks, Insurers

06/01/2020

Banks and insurers are required to submit annual reports on their AML/CTF programmes within 20 working days after the end of each year. For 2019, the reports should be submitted by 15 February 2020.

Operational Risk

Australian Banks Offer Emergency Relief to Bushfire Victims

05/01/2020

The services being offered by ABA member banks to help customers include fee waivers, loan repayment deferrals, and additional financing to help cover cash flow shortages.

Trading & Investment

Shanghai-London Connect Suspended Amid Political Tensions – Reports

05/01/2020

A CSRC spokesperson has denied the suspension after multiple media reports emerged that SSE companies have been temporarily blocked from listing depositary receipts on the LSE.

Structural Regulation

TWSE Amends Disclosure Rules to Transition to Bilingual Capital Market

03/01/2020

TWSE listed companies with end-2019 paid-in capital over $500mn will be required to publish informational materials in both Chinese and English from 1 July.

Structural Regulation

China Issues Implementing Regulation for New Foreign Investment Law

03/01/2020

Effective from 1 January, the regulation emphasises legal protections for foreign investors, prohibits forced technology transfers, and promises equal treatment for foreign-invested enterprises.