Enforcement

Singapore Police Lay First Charge Against Hin Leong Founder

16/08/2020

While investigations into other offences are ongoing, the charge of abetment of forgery for the purpose of cheating carries a punishment of up to ten years’ imprisonment and a fine.

Securities / Derivatives

Bursa Malaysia Amends Listing Rules to Protect Shareholders

13/08/2020

Disclosures requirements applicable to new issues are enhanced, director independence is strengthened, and transparency on loans linked to controlling shareholders is improved.

Securities / Derivatives

SHFE Launches New Options Contracts in Aluminium, Zinc

13/08/2020

China has launched 18 commodity options over the past three years. The new aluminum and zinc options traded for the first time on Monday.

Fintech / Regtech

MAS Pledges SG$250m to Boost Financial Sector Innovation

13/08/2020

Maximum funding under the POC Grant and AIDA Grant will be increased. Support for large-scale innovation projects and staff training will also increase.

Enforcement

China: Ex-Huarong Chairman Pleads Guilty to Taking Bribes

13/08/2020

Lai Xiaomin took almost 1.8bn yuan in bribes over ten years and colluded with others to embezzle over 25mn yuan in public funds. His sentence will be announced at a later date.

Capital / Liquidity

APRA, ASIC Update Guidance on Treatment of Deferred Loans

13/08/2020

Deferred loans need not be treated as past due or impaired for capital or reporting purposes until after 31 March. New reporting requirements will apply.

Market Infrastructure

MAS Official Warns of Financial Sector Job Losses in H2

13/08/2020

Supporting the local workforce in the financial sector during the crisis is a priority for MAS, according to deputy managing director Jacqueline Loh.

Market Infrastructure

RBNZ Announces Expansion of Large-Scale Asset Purchases

12/08/2020

The RBNZ has expanded its quantitative easing programme to NZ$100bn and signalled a willingness to enter negative OCR territory, in response to Covid-19 related uncertainty.

Enforcement

Taiwan FSC Initiates Probe into Taipei Fubon Bank President

12/08/2020

Taipei Fubon Commercial Bank’s president is alleged to have asked subordinates to approve a $30mn loan to a loss-making China-based health supplement company for his own benefit.