ESG / Sustainability

SEBI to Expand Risk Management Committee’s Role at Listed Entities

15/11/2020

The requirement to constitute a risk management committee will be expanded to more companies and its role expanded to include ESG risks.

Market Infrastructure

Ransomware Attacks Present a Growing Threat to FIs: FS-ISAC

15/11/2020

Even with robust cybersecurity programmes, large institutions are vulnerable to attacks through third-party suppliers. Smaller institutions are at even greater risk.

Capital / Liquidity

Pandemic Was ‘First Major Global Test’ of Post-Crisis Reforms: FSB

15/11/2020

The pandemic raised questions of whether the flexibility provided in the Basel framework is actually used by FIs, for example in the case of bank capital and liquidity buffers.

Securities / Derivatives

ABS Releases Enhanced Listings Due Diligence Guidelines

13/11/2020

The new guidelines emphasise the need for issue managers and full sponsors to “exhibit a healthy dose of professional scepticism” when conducting listings due diligence.

Enforcement

Korea FSS Seeks to Suspend Former Brokerage CEOs Over Lime Mis-selling

13/11/2020

The FSS has decided to order the suspension of the former CEOs of Shinhan Investment, Daishin Securities and KB Securities over the mis-selling of Lime Asset Management funds.

Big Picture

DTCC Paper Offers Guidance on Cloud Adoption in Financial Services

13/11/2020

The paper suggests the establishment of a principles-based, harmonised regulatory framework to better support adoption of cloud services by financial institutions.

Securities / Derivatives

FSC Korea Confirms Plan to Lift Short Selling Ban in March

12/11/2020

The lifting of the ban will apply to all stocks regardless of the market cap, despite an earlier proposal to keep it in place for small-cap stocks.

ASIC Amends Proposed Intervention Order for Continuing Credit Contracts

12/11/2020

The changes to the product intervention order proposed in July are to address unintended consequences identified in an earlier consultation.

Market Infrastructure

APRA Updates Draft Prudential Standard on Remuneration

12/11/2020

The prudential standard is expected to come into effect for significant banks in January 2023 and for significant insurers and superannuation entities in July 2023.