AML / KYC

PBOC to Regulate Large Cash Transactions in 2yr Pilot Programme

15/06/2020

Hebei, Zhejiang and Shenzhen will participate in a two-year pilot programme where large cash transactions beyond a fixed threshold will have to be registered.

Market Infrastructure

RBI Reassesses Ownership, Control, Governance at Private Sector Banks

15/06/2020

The RBI has released a discussion paper proposing reforms to improve bank governance, and has formed a working group to review rules on private sector bank ownership and control.

Securities / Derivatives

China Finalises New IPO Rules Shenzhen’s ChiNext Board

15/06/2020

Under the new market-based IPO pricing system, companies seeking a ChiNext listing will have to abide by stricter information disclosure rules, but will no longer require CSRC approval.

Securities / Derivatives

S. Korea Unveils New Corporate Asset Purchase Programme

15/06/2020

KAMCO, a state-run distressed asset manager which was deployed during the 1997 financial crisis, will set up a special purpose vehicle to buy up corporate assets for fair market prices.

Fintech / Regtech

FSC Korea Outlines Key Policy Tasks for H2 2020

14/06/2020

The measures include continued support for businesses and individuals, with some focus being diverted back to pre-Covid policy work to support innovation and data-driven initiatives.

Market Infrastructure

EC Proposes Simplified Approach to Supervising Non-EU CCPs

14/06/2020

Under the new approach, third-country CCPs that are not deemed systemically important will only be subject to basic ESMA supervision, relying on ‘comparable compliance’.

Securities / Derivatives

ASIC Issues Guidance on Listed Company Executive Pay Decisions

14/06/2020

The high-level guidance set out specific factors boards and remuneration committees should consider when exercising discretion on executive variable pay in the current environment.

Market Infrastructure

RBI Updates Oversight Framework for FMIs, Retail Payment Systems

14/06/2020

The framework details the oversight objectives, supervisory processes and assessment methodology the RBI will apply to financial market infrastructures and retail payment systems.

Securities / Derivatives

CSRC Green-lights Trading in Six New Commodity Options Contracts

14/06/2020

The ZCE will launch trading steam coal options; the DCE will launch polypropylene, PVC and LLDPE options; and the SHFE will launch aluminum and zinc options.