AML / KYC

China Should Reduce SWIFT Use in Case of US Sanctions – Report

30/07/2020

China should prepare for potential US sanctions by increasing the use of CIPS for cross-border transactions, and by developing legislation similar to the EU’s blocking statute.

BNM: Banks Agree on Flexible Approach to Loan Repayments

29/07/2020

As the blanket loan moratorium announced in March is due to end, banks have agreed to provide borrowers various repayment flexibilities depending on their specific circumstances.

AML / KYC

HK Police Arrest Five in Transnational Credit Card Fraud Probe

29/07/2020

The syndicate members allegedly used credit card details stolen from cardholders in Singapore, US and Europe to make fraudulent online purchases of electronic products in Hong Kong.

Securities / Derivatives

BSP Excludes Market-making Activities from Single Borrower Limit

29/07/2020

Debt securities acquired by banks from market-making activities will be excluded from the single borrower’s limit computation for 90 calendar days from the time of acquisition.

Enforcement

SEBI Offers One-time Settlement for 500+ Errant Brokers

29/07/2020

SEBI identified instances where trading participants were consistently making losses on stock options trading, only to reverse the losses later in the day or the next day.

Market Infrastructure

ESMA Set to Defer CSDR’s Settlement Discipline Regime

29/07/2020

The European Commission asked ESMA to consider a one-year deferral in light of operational pressures on firms and other market developments amid the Covid-19 pandemic.

Capital / Liquidity

MAS Asks Singapore-headquartered Banks to Cap Dividends

29/07/2020

Locally-headquartered banks are asked to cap fiscal 2020 dividends as a pre-emptive measure to ensure sustained lending given “significant uncertainties” ahead.

Securities / Derivatives

Tokyo Commodity Exchange Proposes Trading Rule Revisions

29/07/2020

TOCOM plans to revise its trading rules to coincide with the launch of a next-gen derivatives trading system known at J-GATE 3.0 in Q3 2021.

Capital / Liquidity

APRA Moderates Approach to Bank Dividends in New Guidance

29/07/2020

Banks should retain at least half of their earnings when making capital distribution decisions, which should be informed by regular stress testing to demonstrate ongoing lending capacity.