AML / KYC

Malaysia Resumes Talks with Goldman on 1MDB Settlement

22/07/2020

A six-member team from Goldman Sachs has entered Malaysia to resume negotiations on a 1MDB settlement. A deal is believed to be within reach.

Fintech / Regtech

FSC Korea Targets Fair Competition, Data Safeguards for Financial Sector

22/07/2020

FSC chairman Eun Sung-soo is eyeing regulatory reforms to ensure fair competition, data security, and consumer protection as bigtechs enter financial services.

AML / KYC

Hong Kong Wealth Managers Scrutinise Clients for Political Links

22/07/2020

Wealth managers are said to be screening comments made by clients and their associates in public, in the media, and in social media posts as far back as 2014 to determine their political stance.

Capital / Liquidity

India to Privatise Majority of State-owned Banks – Report

22/07/2020

The government is looking to sell majority stakes in state-owned banks, but the plan may not be feasible this financial year due to poor market conditions and rising bad loans.

Securities / Derivatives

Singapore: ACRA Proposes Amendments to Companies Act

22/07/2020

An ACRA working group recommends reforms to facilitate digitalisation, review financial reporting requirements, and safeguard shareholders’ interests, among other proposals.

Securities / Derivatives

SEBI to Phase In Stricter Stock Trading Margin Norms From December

22/07/2020

The new rules are expected to severely impact intra-day stock trading, which accounts for about 90% of the market volumes in India.

Capital / Liquidity

BSP Cuts Reserve Requirements for Smaller Banks

21/07/2020

The move to lower the reserve requirement ratio for thrift, rural and cooperative banks will release an estimated $200mn into the economy.

Securities / Derivatives

SGX, Nasdaq Agree to Streamline Dual Listing Process

21/07/2020

Under the agreement, information previously filed with the US SEC or Nasdaq can be used to fulfil documentary requirements for a dual listing in Singapore.

Securities / Derivatives

Malaysia Introduces Enhanced IPO Framework for Main Market

21/07/2020

The new framework will introduce a mandatory holistic consultation process, a longer exposure period for the draft prospectus, and a more liberal principal adviser regime.