Securities / Derivatives

China to Ease Rules on Foreign Strategic Investment in Listed Companies

22/06/2020

The revisions lower foreign investor asset requirements, reduce the lock-up period from three years to 12 months, and expands investment channels to include IPOs and tender offers.

Securities / Derivatives

Bank Indonesia Cuts Rates, Pledges More Bond-Buying

22/06/2020

Bank Indonesia abandoned the practice of quantitative easing in 1999 to ensure fiscal discipline in the aftermath of the Asian financial crisis.

Capital / Liquidity

China: Local Govts to Replenish Capital at Smaller, Midsize Banks

22/06/2020

Local governments will be allowed to buy ¥200bn in capital replenishment tools issued by small and midsize banks, with a fixed term, detailed repayment plan, and assurances on corporate governance and asset quality.

Market Infrastructure

CBIRC Allows AIA to Incorporate as Wholly-owned Subsidiary in China

22/06/2020

The new subsidiary will become the first wholly foreign-owned life insurance company approved for incorporation in mainland China.

AML / KYC

SFC Fines Guotai Junan Securities for AML and Other Breaches

22/06/2020

Guotai Junan Securities was fined for regulatory breaches in connection with AML, third party fund transfers, placing activities, and wash trade detection and reporting.

Enforcement

Australia: Banks Work Towards Swift Resolution of Advice Failures

22/06/2020

Larger than required remediation payments could be fast-tracked for all clients by forgoing the years of work needed to locate advice files and calculate individual payments.

Capital / Liquidity

Taiwan Banks Have Stable Risk-bearing Capacity, Adequate Capital: FSC

22/06/2020

Taiwan’s FSC says only a few banks did not pass their stress tests, but they would have if new capital raised this year was taken into account.

Securities / Derivatives

SSE Revamps Index Methodology to Better Reflect Market Performance

22/06/2020

Index stocks with risk warnings will be removed, CDRs and STAR Market stocks will be included, and the timeframe for including newly-listed stocks will be extended.

Fintech / Regtech

Singapore: AMTD, Xiaomi Finance Launch Digital Finance Programme

22/06/2020

AMTD and Xiaomi Finance will provide S$5mn to support to enable SMU and NUS-ISS to build curriculum and teaching resources for a digital finance leadership programme.