Enforcement

Australian Federal Court Fines OTC Derivative Issuers A$75m

22/10/2020

The three OTC derivatives issues are now in liquidation and have also been ordered pay ASIC’s costs and to refund approximately 10,000 former clients, on top of the penalties.

Enforcement

FSC Korea Kicks Offs New Task Force to Address Illegal Trading

22/10/2020

Korean regulators will work to enhance cross-agency information sharing, introduce a new market abuse monitoring system, and raise penalties for unfair trading activities.

Market Infrastructure

Japan Lawmakers to Propose Streamlining FSA, BOJ Bank Inspections

22/10/2020

Lawmakers reportedly plan to propose that the FSA and BOJ create a committee to address complaints from FIs concerning an overlap between the two agencies in bank inspections.

Market Infrastructure

UK Consults on Post-Brexit Regulatory Framework for Financial Services

22/10/2020

The consultation proposes a blueprint for the future regulatory framework that more clearly allocates responsibilities between Parliament, HM Treasury and financial services regulators.

Capital / Liquidity

APRA Penalises Breach of Prudential Standard on Liquidity

21/10/2020

Bendigo and Adelaide Bank will have to apply a 10 percent add-on to the net cash outflow component of its LCR calculation until its shortcomings have been rectified.

Fintech / Regtech

IMAS Calls on Asset Managers to Join Digital Accelerator Programme

21/10/2020

Under the programme, asset managers will be paired with a shortlisted fintech with the most appropriate solution to the problem statement submitted.

Market Infrastructure

SEBI to Promote Greater Access to Securities Market Data

21/10/2020

The committee will identify gaps in the public availability of securities market data and recommend regulations to promote transparency, access and useability of such data.

Enforcement

Korean Regulators to Revoke Lime Asset Management Licence

20/10/2020

Subject to FSC approval, the FSS will revoke Lime’s business registration and order the company to dismiss its CEO, who was arrested in July.

Enforcement

CBIRC Issues Raft of Penalties Over Illegal Loans at Banks

20/10/2020

China Construction Bank was fined, while senior executives and responsible personnel at Shanghai Pudong Development Bank and Guangfa Bank were punished individually.