Big Picture

ASIFMA Calls for Harmonised Approach to Regulating AI

25/06/2021

Regulators should leverage existing frameworks that largely already address and mitigate the key risks associated with the increased use of AI.

Enforcement

SFC Fines Deutsche Securities Asia Over Prime Brokerage Statements

25/06/2021

A system design caused a failure to distinguish between ex-entitlement dates and settlement dates of bonus share events in periodic statements.

ESG / Sustainability

MAS Announces ‘Final’ Extension of Credit Relief Measures

24/06/2021

MAS says this is likely the final extension and that loan repayments must start normalising to minimise debt accumulation.

Enforcement

CBIRC Issues Draft Rules on Related Party Transactions

24/06/2021

Banks and insurers are required to put in place mechanisms to prevent the transfer of benefits to shareholders and their related parties.

AML / KYC

Korean Officials Seize Cryptocurrency from Tax Evaders

23/06/2021

Investigators had to compare tax evaders’ mobile phone numbers against those registered at crypto exchanges in order to track down their account details.

Capital / Liquidity

Korean Cabinet Approves Rules on SIFI Resolution Plans

23/06/2021

SIFIs will be required to prepare recovery and resolution plans and submit them to the FSS within three months from being designated.

Securities / Derivatives

Shanghai, Shenzhen List First Infrastructure REITs for Trading

23/06/2021

All nine REITs opened higher on their first day of trading, highlighting enthusiasm from investors for the new type of equity securities.

Market Infrastructure

GFMA, BCG Publish Principles for Climate Finance Taxonomies

23/06/2021

The principles are based on a broader definition of climate finance which goes beyond debt instruments and captures equity financing and working capital.

Fintech / Regtech

DBS Launches Automated Digital Bond Issuance Platform

23/06/2021

FIX Marketplace enables issuers to digitalise their bonds for direct issuance in the market, while allowing for direct interaction with investors.