Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Enforcement
CBIRC Strengthens Administrative Procedures for Penalising Illegal Acts
04/07/2020
The maximum administrative penalties for illegal acts are effectively increased to ¥5mn for banking institutions and ¥500,000 for banking industry personnel.
Securities / Derivatives
SFC Asks HKEX to Raise Guard Against Conflicts of Interest
04/07/2020
The SFC says Listing Department personnel should not attend business meetings with prospective listing applicants, and HKEX should further reinforce ‘Chinese Walls’.
RBI Asks Banks, NBFCs to Adopt New Classification Norms for MSMEs
03/07/2020
Banks and NBFCs have to classify enterprises as micro, small or medium based on new thresholds for turnover and investment in plant and machinery or equipment.
Fintech / Regtech
South Korea Enhances Credit Database in Open Data Push
03/07/2020
Korea’s CreDB system will be enhanced with additional datasets and increased server capacity to support deep learning and other types of AI-based data analysis.
Big Picture
Virtual Banks Could Shake Up Funds Industry – Report
03/07/2020
Successful virtual banks are likely to branch out into wealth management services, robo-advisory and fund distribution, says a new Calastone paper.
Securities / Derivatives
CBIRC Issues Treasury Bond Futures Trading Rules for Insurers
02/07/2020
Insurers can only trade treasury bond futures to hedge asset risk, lock in the price on future purchases, or manage interest rate risks caused by asset and liability mismatches.
Securities / Derivatives
Singapore Banks Join Forces to Reduce Commodity Lending Risk
02/07/2020
Some 20 banks in Singapore have set up a working group to propose new guidelines to improve lending practices and transparency for the commodity sector.
Fintech / Regtech
Hong Kong Offers Wage Subsidy to Local Fintechs
02/07/2020
Fintech companies registered in Hong Kong can apply for a salary subsidy to fill a new full-time position for a maximum of 12 months.
Market Infrastructure
Taiwan to Tighten Rules on Chinese Investment – Report
02/07/2020
New rules will empower Taiwan’s government to investigate whether funds from Hong Kong or other countries are actually from Chinese investors.
Market Infrastructure
BSP Approves New Payment System Oversight Framework
02/07/2020
The BSP will be empowered to designate a payment system as systemically important, and replace its operator for a failure to satisfy regulatory obligations.
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