Enforcement

Korea: Banks, Brokers Agree Plan to Recover Lime Asset Losses

11/06/2020

Twenty firms, including banks and brokers, will set up a new entity to manage the estimated 1.7tr won in assets frozen by Lime Asset Management since October.

Market Infrastructure

High-Level Forum Charts Course to Achieve EU Capital Markets Union

11/06/2020

In a new report, the EU’s High-Level Forum on capital markets union offers specific recommendations on developing deeper, more dynamic and more harmonised markets across EU member states.

Fintech / Regtech

Xiaomi-AMTD Joint Venture Launches Hong Kong Virtual Bank

11/06/2020

Airstar Bank commits to becoming “Everyone’s Bank”, contrasting itself with conventional banking models which focus on high net-worth individuals.

Australia: Banks Fail to Pass Rate Cuts to Credit Card Customers

10/06/2020

The credit cards with the largest rate increases are those backed by Citigroup, Members Equity Bank, Police Credit Union, and ANZ, according to consumer advocacy group CHOICE.

Securities / Derivatives

ICMA Releases Guidance for Issuers of Sustainability-Linked Bonds

10/06/2020

Sustainability-linked bonds are performance-based bond instruments where the issuer is committing to future improvements in sustainability outcomes within a predefined timeline.

Securities / Derivatives

Thailand SEC Supports LuxSE Listings by Domestic Firms

10/06/2020

Thai bond issuers can list their securities on LuxSE’s BdL or Euro MTF; or alternatively obtain a profile listing on the SOL to gain visibility on the Luxembourg Green Exchange.

Securities / Derivatives

Indian Court Halts Franklin Templeton Fund Liquidation

10/06/2020

Franklin Templeton had planned to allow unitholders to vote on whether to allow six shuttered funds to be liquidated, but the Court says it must first release a forensic audit report on the funds in question.

Fintech / Regtech

FSC Korea Opens Applications for New Data Specialist Designation

10/06/2020

Designated ‘data specialising institutions’ will be able to use anonymised and pseudonymised customer data for statistical and industry research and for public documentation purposes.

Capital / Liquidity

CBIRC Eases Loan Loss Provisioning Requirements – Report

10/06/2020

The CBIRC has reportedly told small and midsize banks they can reduce the amount of capital they need to set aside to cover potential losses from loan defaults.