Credit Risk

China: New Rules Issued to Address Unreliable Bond Ratings

08/08/2021

The rules require credit rating agencies to strengthen their methodologies and systems, improve corporate governance, and avoid conflicts of interest.

Structural Regulation

CSRC Allows Fidelity to Set up China Retail Fund Business

08/08/2021

Fidelity has become the second global asset manager to receive approval to set up a fully-owned mutual fund business after BlackRock.

Anti-Money Laundering

US DOJ Repatriates Additional $452bn in 1MDB Funds to Malaysia

08/08/2021

The total funds belonging to 1MDB that have been returned to date amount to over $1.2bn, the DOJ said in a statement.

KYC & CDD

SEBI Allows Indian Fund Managers to Participate in FPIs

07/08/2021

KYC norms that required FPIs and institutional investors to disclose their personal information to SEBI have also been relaxed.

Trading & Investment

LIBOR Alternatives Gain Traction in Japan – Report

06/08/2021

OIS transactions based on TONA and TIBOR increased in July, suggesting alternative rates to JPY LIBOR are gaining traction.

Capital Adequacy

APRA Releases Final Prudential Standard on Capital Adequacy

06/08/2021

CET1 capital may not have unusual features that could undermine its role as the highest quality loss-absorbing capital. The final APS 111 takes effect from 1 January 2022.

Payments & Settlements

CPMI Workplan Highlights Focus on Stablecoins, CBDCs

06/08/2021

CPMI annual work programme highlights cross-border payments, stablecoins, CBDCs, central clearing and FMI risks as key priorities.

Conduct, Culture & Accountability

ASIC Issues Update on Compensation Paid for Non-compliant Advice

05/08/2021

Australia’s 6 largest FIs have paid over A$1.86 billion to compensate customers for fees-for-no-service misconduct and non-compliant advice.

Sustainable Finance

FIs Team Up to Accelerate Coal Plant Closures in APAC

05/08/2021

Prudential, Citi, HSBC, and BlackRock are reportedly working on a plan to buy out coal-fired plants and wind them down early.