Fintech / Regtech

FSC Korea Revises Guidelines for P2P Lending Firms

20/07/2020

The key changes will strengthen disclosure rules, prohibit unfair sales activities, restrict sales of high-risk investment products, and impose limits on loans and investments.

Securities / Derivatives

CFTC Grants Certification to 23 HKFE Index Futures Contracts

20/07/2020

The 23 contracts can be offered and sold to US persons, and are among the new products being introduced as part of a ten-year licensing agreement with MSCI.

Capital / Liquidity

Beyond FRTB: Risk Management and Enterprise Data Opportunities

20/07/2020

FRTB is a significant global industry challenge, but the process to achieve its outcomes can harness value from data that can be applied throughout a bank’s operations.

Enforcement

Court Finds ex-HKMEx Head Guilty of Conspiracy to Defraud SFC

20/07/2020

The former head and CFO of now-defunct Hong Kong Mercantile Exchange conspired to hide the exchange’s true financial position and mislead the SFC into allowing it to retain its licence.

Enforcement

ASIC Charges Former MP with Fraud, Director Breaches

20/07/2020

Former MP Clive Palmer is said to have used his mining company to channel over A$12.1 million into his political party’s 2013 election campaign.

AML / KYC

China: Regulators Seize Nine FIs Linked to Tomorrow Group

20/07/2020

The CBIRC has seized control of four insurance companies and two trust companies, while the CSRC has taken over two securities firms and one futures brokerage.

Securities / Derivatives

Korea Launches Bond-Buying, Asset-Buying SPVs

19/07/2020

Korea Development Bank is operating an SPV to buy low-rated corporate debt. KAMCO is separately being deployed to buy up corporate assets at fair prices.

Market Infrastructure

China to Connect Interbank, Exchange Traded Bond Markets

19/07/2020

Qualified investors will be able to buy and sell tradable bonds in either of the two markets through a single nominee account, subject to meeting investor suitability requirements.

Market Infrastructure

G20 Officials Pledge Further Support to Global Economy

19/07/2020

The G20 officials have pledged to continue using all available policy tools to help support the global economy and enhance the resilience of the financial system.