AML / KYC

Pakistan Senate Passes Amendments to Anti-Terrorism, UNSC Laws

31/07/2020

The amendments raise the maximum penalties for violating anti-terrorism laws, and empower the government to implement UN Security Council resolutions.

Securities / Derivatives

Bursa Malaysia to Introduce New Derivatives Products

31/07/2020

The derivatives products to be launched this year include new single stock futures, a revamped index futures contract, and ETFs linked to sectoral indices.

Securities / Derivatives

China: NAFMII Proposes Rules for Trading Credit Default Swaps

31/07/2020

Credit default swaps and credit-linked notes will provide investors additional tools to hedge against bond defaults and other credit events.

China Launches National Green Development Fund

31/07/2020

The National Green Development Fund will be used to invest in key areas of green development along the Yangtze River Economic Belt.

Enforcement

S. Korean Regulators Apologise for Private Fund Losses

30/07/2020

The FSC has meanwhile released new administrative guidance on private funds, aimed at strengthening supervision of the sector.

ASIC Tightens Timeframe for Complaints Handling in Financial Sector

30/07/2020

Superannuation trustees have 45 days to respond to a complaint, compared to 90 days previously. Other financial services and credit providers have 30 days.

Market Infrastructure

Reserve Bank of New Zealand Bill Introduced in Parliament

30/07/2020

The Bill focuses on reforming RBNZ’s overall institutional, governance, accountability, and funding arrangements, effectively updating 30-year-old legislation.

Fintech / Regtech

WeLab Bank Announces Public Launch of Virtual Banking Services

30/07/2020

WeLab Bank was the only stand-alone company to win a virtual bank licence from the HKMA. It commenced pilot services in April.

Securities / Derivatives

Malaysia Issues Director Conduct Guidelines for Listed Issuers

30/07/2020

The guidelines set out the obligations of directors of listed companies and their subsidiaries, and requirements for the establishment of group-wide frameworks.