Enforcement

APRA Imposes Licence Conditions on NAB Unit NULIS Nominees

28/08/2020

NULIS Nominees is required to improve its governance and control environment, and ensure members’ best interests are prioritised in its decision-making.

Securities / Derivatives

CSOP Launches First ETF Tracking New Hang Seng TECH Index

27/08/2020

Several other asset managers have submitted applications to regulators seeking to issue similar ETFs based on the new index, which tracks Hong Kong’s 30 largest tech listings.

Securities / Derivatives

Taiwan CSD Launches Consolidated Access to ESG Ratings

27/08/2020

FTSE Russell, ISS ESG, MSCI and Sustainalytics have collaborated with TDCC to launch a new ESG Dashboard that provides consolidated access to ESG ratings.

Securities / Derivatives

CSRC Publishes Classification Results for Securities Firms

27/08/2020

The classification reflects securities firms’ governance structures, risk management capabilities, continuous compliance status, and business development status.

Securities / Derivatives

CSRC Offers to Allow PCAOB to Inspect State-owned Entities – Report

27/08/2020

The CSRC proposes to allow the PCAOB to choose any Chinese state-owned enterprises for trial inspections, though information related to national security would be redacted.

Capital / Liquidity

FSC Korea Extends Easier Liquidity Requirement for Banks

26/08/2020

The lower liquidity coverage ratio was scheduled to end in September, but the FSC has decided to extend the relaxed requirements until end-March.

AML / KYC

ASIC Ends Years-old Probe into CBA’s AML Breaches

26/08/2020

ASIC will not be pursuing further enforcement action against Commonwealth Bank for the AML breaches that in 2018 resulted in a A$700mn settlement with AUSTRAC.

ESG / Sustainability

Taiwan FSC Releases Corporate Governance, Sustainability Roadmap

26/08/2020

From 2024, all financial firms and listed companies with paid-in capital over $340mn will be required to have at least one-third of their boards made up of independent directors.

Securities / Derivatives

Philippines Issues Rules on New Investment Vehicle for Corporate Debt

26/08/2020

Corporate Debt Vehicles can issue securities to invest in bonds, notes or commercial papers issued by large corporations and medium-sized enterprises.