DBS Unveils Sustainable Finance Framework for Clients

01/07/2020

The framework and taxonomy will help DBS clients transition to more sustainable business models, providing them transition financing to do so.

Market Infrastructure

Philippine SEC Seeks Independent Board at Stock Exchange

01/07/2020

The Philippine Stock Exchange currently has three independent directors on its 15-seat board. Under the proposed rules, a majority of the directors will have to be independent.

Enforcement

Korea: Optimus Asset Management Ordered to Suspend Business

01/07/2020

Company executives will be removed and designated administrators will take over their duties. Optimus is accused of fabricating depository statements sent to brokers.

ASIC Offers Whistleblower Guidance for Auditors, Company Officers

01/07/2020

The guidance explains the obligations of company auditors and company officers under the whistleblower protection provisions under the Corporations Act.

Market Infrastructure

FSB Issues Statement on Global Benchmark Transition

01/07/2020

The FSB maintains its view that financial and non-financial sector firms across all jurisdictions should continue efforts to remove remaining LIBOR dependencies by end-2021.

Securities / Derivatives

Wave of Fund Managers Looking to Set Up Singapore VCCs

01/07/2020

Up to 70 VCCs have already been launched in Singapore, many by small and boutique funds or local family offices. But a much larger wave of companies is on its way.

AML / KYC

BNM e-KYC Policy for Customer Onboarding Takes Effect

30/06/2020

Financial institutions have the freedom to decide on any combination of methods to identify and verify customers through e-KYC, but prior BNM approval is required.

Market Infrastructure

ASX Proposes April 2022 Go-Live of CHESS Replacement

30/06/2020

The revised timetable accounts for Covid-19 related disruptions, accommodates functionality changes, and provides more time to ensure user readiness.

India Bans Chinese Apps, Citing Data Privacy Issues

30/06/2020

India has banned 59 of China’s biggest mobile phone apps including TikTok and WeChat, saying they breach data privacy requirements and threaten the country’s security.