Securities / Derivatives

BSE India Launches World’s First Almond Futures

24/06/2020

The new contract will enable transparent price discovery, ease trade for buyers and sellers, and allow producers and importers to hedge price risk.

Market Infrastructure

BOT Directs Banks to Suspend Dividends, Share Buybacks

24/06/2020

Commercial banks are asked to draw up new capital management plans for the next 1-3 years, taking into account expected economic and business trends following the pandemic.

AML / KYC

HSBC Offers Remote Account Opening to Hong Kong SMEs

24/06/2020

Recent initiatives by HSBC to shift to lower-cost, digital-first services are largely seen as a response to new competition from virtual banks in Hong Kong.

Enforcement

ASIC Seeks Penalties from CBA, Colonial First State

24/06/2020

Colonial First State is said to have used CBA’s branches and digital channels to sell superannuation products to more than 390,000 bank customers under a revenue-sharing arrangement.

AML / KYC

FMA Sues CLSA New Zealand for AML Breaches

24/06/2020

CLSA Premium NZ failed to adequately conduct customer due diligence, terminate certain business relationships, report suspicious transactions, and maintain records.

Market Infrastructure

ASEAN+3 Strengthens Regional Emergency Liquidity Programme

24/06/2020

The 2010 crisis liquidity programme has been revised to reinforce financial support, create additional flexibility, and introduce conditionality.

Capital / Liquidity

BCBS Proposes Risk Weight Floor for NPL Securitisations

23/06/2020

The BCBS identified a gap in the regulatory framework for securitisations of non-performing loans, which it is seeking to address through a new technical amendment.

AML / KYC

SFC Bans Former Guosen Head of Dealing for 12 months

23/06/2020

The head of dealing “turned a blind eye” to internal control deficiencies in relation to third party deposits brought to her attention by its staff since 2013.

Fintech / Regtech

BOK to Boost AI Capabilities Through Kakao Partnership

23/06/2020

Kakao Enterprise’s AI technology will initially be used for task support such as taking meeting minutes, before the partnership later expands to support BOK policy-making.