Market Infrastructure

Shenzhen Granted Autonomy to Enact Market-based Reforms

19/10/2020

Shenzhen will be able to make its own laws on artificial intelligence and big data, start a stock futures index, and list companies on its stock market with depositary receipts.

Securities / Derivatives

CSRC Green-lights Ant Group Hong Kong Stock Listing

19/10/2020

The approval follows reports that a probe into a potential conflict of interest in the planned $35bn stock listing threatened to delay the IPO.

Enforcement

Australian Court Orders Penalty Against NAB Over Introducer Programme

19/10/2020

The penalty was discounted due to NAB’s cooperation with ASIC and its admissions that it contravened the law by using unlicenced home loan referrers.

Market Infrastructure

FSB Publishes Cyber Resilience Toolkit for Financial Sector

19/10/2020

The financial system is only as strong as its weakest link, the FSB says, encouraging the use of the final toolkit to enhance cyber incident response and recovery activities.

Enforcement

FSS Korea to Launch Probe Into Samsung Securities

18/10/2020

Samsung Securities allegedly intervened to secure support from shareholders of a Samsung entity for a 2015 merger while also acting as adviser to the other party in the transaction.

Capital / Liquidity

PBOC Issues Draft Rules ‘Fully Revising’ Commercial Bank Law

18/10/2020

The revisions will enhance governance, improve board and senior management accountability, strengthen capital and risk management requirements, and raise penalties for violations.

Fintech / Regtech

Japan FSA to Debut Online Filing Platform by March 2021

18/10/2020

The FSA plans to update its ordinances and guidelines to enable a complete shift to online applications and filings by March 2022.

Capital / Liquidity

PBOC Rules for Conglomerates to Limit Systemic Risk: Fitch

18/10/2020

Fitch Ratings says the new regulations for conglomerates with interests in financial services will help contain systemic risks by limiting irregular financial activities and misconduct.

Securities / Derivatives

China Vows to Improve Quality of Listed Companies

18/10/2020

A new State Council guideline promotes the issuance of domestic shares to purchase overseas assets, and greater inbound investment from qualified foreign investors.