Capital / Liquidity

APRA Removes Cap on Interest-Only Lending

19/12/2018

Caps on investor and interest-only lending have served their purpose of moderating higher risk lending and improving lending standards, according to APRA chairman Wayne Byres.

Securities / Derivatives

China Exempts Mainland Investors from Tax on Hong Kong Funds

19/12/2018

Chinese regulators have applied a one year income tax exemption for mainland investors buying and selling Hong Kong funds through the mutual recognition of funds scheme.

Fintech / Regtech

APRA Grants Second ‘Restricted ADI’ Licence

19/12/2018

Xinja Bank, the latest recipient of the restricted ADI licence, has a prepaid card on the market and an ASIC-approved home loan product.

Securities / Derivatives

SEBI Amends Risk Management Framework for Equity Derivatives

19/12/2018

Initial margins must be collected before the next trading day (T+0), but CCPs may allow 2 days after the last margin collection before close-out of equity derivative positions.

Capital / Liquidity

HKMA Asks Local Banks to Study Latest Pillar 3 Requirements

19/12/2018

The HKMA advises banks to start considering the system changes necessary to implement the Basel Committee’s latest Pillar 3 disclosure requirements.

Enforcement

ACCC to Get A$35mn to Pursue Anti-Competitive Behaviour

18/12/2018

New specialist investigators are expected to bring more competition cases to court each year and boost prosecutions of criminal cartels, especially in the financial sector.

Big Picture

Indian Government Could Undermine Banking Sector Reforms – S&P

18/12/2018

Restrictions on the RBI’s authority to reform governance of public sector banks are seen as a weakness in its mandate and could undermine financial stability, says S&P Global Ratings.

AML / KYC

Malaysia Files Criminal Charges Against Goldman Sachs over 1MDB

17/12/2018

Malaysian prosecutors have filed criminal charges against three Goldman subsidiaries and two former employees, seeking fines in the billions of dollars and jail terms of up to 10 years.

AML / KYC

AUSTRAC Publishes AML/CTF Guidance for Superannuation Sector

17/12/2018

While superannuation is not traditionally associated with financial crime exploitation, AUSTRAC’s risk assessment has rated the sector as medium risk.