Securities / Derivatives

China Allows Foreign Bank Branches to Enter Fund Custody Business

12/07/2020

Applicant banks must be of “high quality”, specifically in relation to risk management, international reputation, operating performance, profitability and market share.

Market Infrastructure

Hong Kong Passes Limited Partnership Fund Bill

12/07/2020

The limited partnership fund regime is aimed at attracting private equity, real estate, and venture capital funds to set up and operate in Hong Kong.

Securities / Derivatives

Malaysia Revises Circuit Breaker Mechanism, Price Limits

12/07/2020

The temporary revisions to the static and dynamic price limits, and the circuit breaker, are being implemented to provide added market stability and confidence.

Enforcement

Taiwan FSC Fines Chang Hwa Bank Over Client Theft

11/07/2020

A Chang Hwa Bank consultant was found to have used over $2mn of client money to make up losses for other clients over a ten year period.

Japan FSA Pushes for Sustainability in Bank Business Models

10/07/2020

Management changes may be needed at regional banks that lack sustainability in their business models, says the FSA’s Toshihide Endo.

Enforcement

ASIC Consults on Second Use of Product Intervention Power

10/07/2020

ASIC names BHF Solutions and its associate, Cigno, as two companies that enter into high-cost continuing credit contracts with retail customers without a credit licence.

Fintech / Regtech

PBOC Partners with Didi Chuxing to Test Digital Currency

10/07/2020

The PBOC has established a partnership with ride-hailing firm Didi Chuxing to test its digital currency in payments.

Securities / Derivatives

HKEX Launches Master SPSA Service for Fund Managers

10/07/2020

The new service allows pre-trade checking of China A shares for northbound Stock Connect trading at the fund manager or aggregate level.

Capital / Liquidity

APRA Outlines Expectations on Deferred Loan Management

09/07/2020

Deputy Chair John Lonsdale expects many banks will require an uplift in capabilities, processes and oversight to meet APRA’s expectations.