AML / KYC

India to Restrict Foreign Ownership of Pension Funds

23/06/2020

Under draft rules, government approval will be required for investment in an Indian pension fund from land-border countries including China; a 49% cap is proposed for other foreign investors.

BOT Announces ‘Phase 2’ Measures to Support Debtors

23/06/2020

Lenders are directed to sustain debtors through lower interest rates and fees, expanded credit limits, delayed property seizures, and other debt relief and restructuring measures.

Securities / Derivatives

Bangladesh Bank Eases Foreign Investor Repatriation Policy

23/06/2020

Remittances of share sale proceeds to non-resident foreign investors no longer need prior approval from the central bank if pricing is determined based on the net asset value approach.

Fintech / Regtech

MAS Seeks Cooperation with China on Green Finance

23/06/2020

MAS managing director Ravi Menon suggests that China and Singapore work together to create frameworks for green and sustainability-linked loans, customised for Chinese and Singaporean SMEs.

Securities / Derivatives

ASX Calls for Reforms Around Class Actions, Litigation Funding

22/06/2020

The benefit of securities class actions may disproportionately benefit litigation funders rather than plaintiffs in those proceedings, with the costs falling on the shareholders, ASX says.

Securities / Derivatives

China to Ease Rules on Foreign Strategic Investment in Listed Companies

22/06/2020

The revisions lower foreign investor asset requirements, reduce the lock-up period from three years to 12 months, and expands investment channels to include IPOs and tender offers.

Securities / Derivatives

Bank Indonesia Cuts Rates, Pledges More Bond-Buying

22/06/2020

Bank Indonesia abandoned the practice of quantitative easing in 1999 to ensure fiscal discipline in the aftermath of the Asian financial crisis.

Capital / Liquidity

China: Local Govts to Replenish Capital at Smaller, Midsize Banks

22/06/2020

Local governments will be allowed to buy ¥200bn in capital replenishment tools issued by small and midsize banks, with a fixed term, detailed repayment plan, and assurances on corporate governance and asset quality.

Market Infrastructure

CBIRC Allows AIA to Incorporate as Wholly-owned Subsidiary in China

22/06/2020

The new subsidiary will become the first wholly foreign-owned life insurance company approved for incorporation in mainland China.