Enforcement

ASIC Consults on Second Use of Product Intervention Power

10/07/2020

ASIC names BHF Solutions and its associate, Cigno, as two companies that enter into high-cost continuing credit contracts with retail customers without a credit licence.

Fintech / Regtech

PBOC Partners with Didi Chuxing to Test Digital Currency

10/07/2020

The PBOC has established a partnership with ride-hailing firm Didi Chuxing to test its digital currency in payments.

Securities / Derivatives

HKEX Launches Master SPSA Service for Fund Managers

10/07/2020

The new service allows pre-trade checking of China A shares for northbound Stock Connect trading at the fund manager or aggregate level.

Capital / Liquidity

APRA Outlines Expectations on Deferred Loan Management

09/07/2020

Deputy Chair John Lonsdale expects many banks will require an uplift in capabilities, processes and oversight to meet APRA’s expectations.

Enforcement

CSRC to Punish 258 Firms Illegally Financing Margin Trading

09/07/2020

The CSRC warns that illegal lenders are offering margin loans via websites, mobile apps and social media, promising investors 10 times leverage and high profits.

AML / KYC

Chinese Banks Plan for Possible US Sanctions – Report

09/07/2020

Bank of China and ICBC are reportedly preparing for worst-case possibilities that they could be cut off from US dollars or lose access to US dollar settlements.

Securities / Derivatives

ASIC Directs Listed Firms to Disclose Covid-19 Impacts

09/07/2020

Firms should “tell the story” of how their businesses are impacted by the Covid-19 pandemic, including support and assistance received from government, lenders, landlords and others.

AML / KYC

Revised FATF Standards ‘Clearly Apply’ to Stablecoins

09/07/2020

Stablecoins are better placed than many virtual assets to achieve mass-adoption, which makes them vulnerable to AML/CTF risk, the FATF says.

Capital / Liquidity

BCBS Finalises Targeted Revisions to CVA Risk Framework

08/07/2020

Completion of the final adjustments to the CVA framework represents the conclusion of outstanding policy work related to the Basel III framework.