AML / KYC

US Recovers $60m in 1MDB Funds from Najib Razak’s Stepson

06/09/2020

The assets recovered include luxury real estate in Beverly Hills, New York and London, a Kentucky maintenance company, and a 1927 promo poster for the film “Metropolis”.

Market Infrastructure

Green Finance Alliance for Greater Bay Area Launches

06/09/2020

The Alliance has been established to increase funding channels for green projects and guide government policies and investment projects.

HKMA Calls on Financial Sector to Support New Recruitment Scheme

06/09/2020

The Financial Industry Recruitment Scheme for Tomorrow scheme aims to create 1,500 full-time jobs in the financial services industry.

Securities / Derivatives

US SEC Stays Implementation of NYSE Direct Listing Rules

06/09/2020

The Council of Institutional Investors has objected to the direct listing rules on concerns that companies may circumvent investor protections built into the IPO process.

Fintech / Regtech

BSP Targets September Issuance of Digital Banks Framework

06/09/2020

Separately, new legislation is under development to expedite the digital banking sector, targeted to pass by the end of 2020.

Capital / Liquidity

RBI Loosens Constraints on Banks’ Bond-buying Activities

06/09/2020

The move will provide banks additional liquidity to buy more government bonds and help calm investors who are nervous about a sudden spike in yields.

Enforcement

Taiwan FSC Orders Probe into Securities Firm Over Broker Suicide

06/09/2020

The brokerage firm is reportedly under scrutiny because a stock broker claimed in a suicide note that he was instructed to place orders for clients through a separate laptop in the office.

Securities / Derivatives

SEBI Asks Rating Agencies Not to Classify Restructured Debt as Default

06/09/2020

Credit rating agencies are asked not to consider debt restructured as a result of Covid-19 related stress as a default event.

Market Infrastructure

CBIRC Issues Action Plan to Enhance Governance at Banks, Insurers

06/09/2020

The action plan outlines a series of targeted measures and an implementation timetable to improve corporate governance at banks and insurers.