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.

Market Infrastructure

PBOC Grants Bank Card Clearing Licence to Amex JV

14/06/2020

American Express has become the first foreign company to receive a network clearing licence in China, which will allow it to compete with Tencent, Alipay and China UnionPay for market share.

AML / KYC

AUSTRAC Ups Ante in Westpac Money Laundering Case

14/06/2020

AUSTRAC has requested information from Westpac on additional child exploitation cases the bank detected in its lookback, potentially to use in penalty negotiations.

Enforcement

Malaysia: Former Trust Consultant Jailed for Securities Fraud

13/06/2020

The former consultant promised investors guaranteed returns but used the monies they paid for share trading in her personal account.

Market Infrastructure

New Zealand’s New Conduct Regime Not Adequately Developed

13/06/2020

The bill to introduce a new conduct regime in New Zealand is not yet adequately developed, say Consumer New Zealand, the NZBA, and the Financial Services Council.

Securities / Derivatives

AMAC Issues Guidance on Private Fund Performance Remuneration

13/06/2020

The guidelines articulate four basic principles private fund managers are required to follow in designing and implementing performance remuneration mechanisms.

Market Infrastructure

NAB to Lift Industry Standards with Bank-Wide Education Programme

12/06/2020

The programme, to be launched in partnership with FINSIA, will be rolled out for all of NAB’s Australia and New Zealand bankers and support staff.