Structural Regulation

RBA to Establish Panel of Economists to Aid Policymaking

18/08/2022

The first meeting of the new panel is planned for 6 October, to discuss economic challenges and the appropriate role of forward guidance in monetary policy.

Supervision & Enforcement

CSRC Probes China Merchants Securities Over 2014 Deal

18/08/2022

The investigation will impact any IPO applications being sponsored by China Merchants Securities.

Conduct, Culture & Accountability

BSP Drafts New Rules on Financial Services Dispute Resolution

18/08/2022

Complainants can elect for mediation or adjudication only if the complaint cannot be resolved by the FI itself or the BSP’s Consumer Assistance Mechanism.

Supervision & Enforcement

CBIRC Fines New Times Trust, Bans Top Executives for Life

18/08/2022

New Times Trust, a unit of Tomorrow Group, was fined CNY 7 million. Nine former executives were warned, fined or otherwise penalised with lifetime bans.

Market Data & Technology

SET, Bloomberg Launches Initiative to Boost Capital Markets Talent

18/08/2022

The initiative will allow finance students from eight universities to gain experience in financial markets trading using Bloomberg data and tools.

Anti-Money Laundering

Philippine AMLC Tightens Requirements on DNFBPs

18/08/2022

Updated AML/CFT guidelines require DNFBPs to submit proof that their proprietors, partners, directors and principal officers have attended an AML seminar.

Credit Risk

China to Pilot Initiative to Speed Up NPL Disposals

18/08/2022

Authorities will initially consider selecting six provinces to pilot an initiative to speed up the disposal of bad loans from small- and medium-sized banks.

Operational Risk

Korea FSS Probes Korea Investment & Securities Over System Outage

18/08/2022

The system outage occurred due to an electrical short circuit at Korea Investment & Securities’ main data processing computer centre.

Cryptocurrency

Crypto Firm Hodlnaut Applies for Judicial Management in Singapore

18/08/2022

The alternative of forced liquidation would be a “suboptimal solution” that would require Hodlnaut to sell users’ cryptocurrencies at “depressed asset prices”.