Capital / Liquidity

BSP Defers Adoption of New Supervisory Assessment Framework

30/06/2020

The six-month deferral is intended to give FIs more time to prepare for implementation, given the impact of the Covid-19 pandemic.

New Zealand Sets Out Disclosure Rules for Financial Advisers

30/06/2020

Financial advisers will have to disclose to clients details about fees, the range of products they advise on, conflicts of interest and commissions they may earn.

AML / KYC

UPDATED – Wirecard Fraud: A Timeline of Events

30/06/2020

Wirecard has filed for insolvency amid multiple probes. BaFin faces scrutiny for mishandling clear red flags. EY faces lawsuits for failing to catch the improprieties earlier.

Market Infrastructure

China May Grant Securities Licences to Major Banks – Report

29/06/2020

At least two major banks are expected to be allowed to conduct investment banking business intially, rather than the full range of securities services.

Capital / Liquidity

Korean Banks Opt to Adopt Basel III Credit Risk Framework Early

29/06/2020

Fifteen banks and eight bank holding companies opted to adopt the Basel III credit risk framework early as it will boost their capital adequacy ratios.

Securities / Derivatives

HKEX Shortens Structured Product Listing Cycle to Three Days

29/06/2020

From 13 July, issuers can list derivative warrants, CBBCs and inline warrants for trading on the third trading day after the submission of their term sheets.

Market Infrastructure

China Sets Stage for GBA Wealth Management Connect Scheme

29/06/2020

Under a pilot scheme, Greater Bay Area residents will be able to invest in wealth management products distributed by GBA banks across boundaries.

Securities / Derivatives

Singapore Banks Ready to Trade SORA Derivatives

29/06/2020

The ABS and SC-STS say “significant progress” has been made in key technical work to support Singapore’s transition from SOR to SORA.

Big Picture

FSB Evaluates Efficacy of Too-big-to-fail Reforms

29/06/2020

The evaluation found that the TBTF reforms have made indeed banks more resilient and resolvable, but barriers to bank resolvability still need to be addressed.