Capital / Liquidity

ISDA, CCDC to Promote Global Use of China Bonds as Collateral

15/09/2020

ISDA and the CCDC will soon publish research making the case for yuan-denominated bonds to be used internationally as collateral.

Hong Kong Govt Enhances 100% Loan Guarantee Scheme

15/09/2020

The maximum loan amount and repayment period are being increased to further alleviate the cash flow pressure of SMEs, effective from Friday, 18 September.

Fintech / Regtech

China to Develop More Cities as Global Fintech Hubs

15/09/2020

The other cities besides Beijing that China will develop as global fintech hubs include Shanghai, Shenzhen and Hangzhou, underpinned by regulations on fintech development.

AML / KYC

FATF Details Virtual Asset Red Flags for Detecting Criminal Activity

15/09/2020

This report will help VASPs, FIs, DNFBPs, and other reporting entities detect and report suspicious transactions, and national authorities detect criminal activity.

Capital / Liquidity

PBOC Publishes Final Rules for Financial Holding Companies

14/09/2020

Existing groups that meet the requirements have 12 months to apply to the PBOC for establishment and licensing, with at least CNY 5 billion in registered capital.

Enforcement

Japan: Nomura Employee Leaks Client Information to Securities Firm

14/09/2020

Nomura has apologised for the incident and pledged to strengthen its management of customer information. It will also consider taking legal action against the offending staffer.

Capital / Liquidity

HKMA Published Revised SPM on Non-Cleared OTC Derivatives

14/09/2020

Banks currently in scope of the margin requirements and risk mitigation standards have until 1 September 2021 to comply wth the revised supervisory policy manual.

Enforcement

ASIC Power to Obtain Documents Upheld in Federal Court

14/09/2020

Two separate rulings against Maxi EFX and IOOF-owned RI Advice clarify obligations for those who receive ASIC notices requiring them to produce documents.

RBI Sets Out Guidelines on Bank Compliance Function

13/09/2020

The guidelines are aimed at ensuring a uniform approach with regard to compliance and risk management culture across the banking industry.