Securities / Derivatives

Singapore Allows Electronic Dissemination of Offer Documents

06/05/2020

Electronic dissemination will enable rights issues and takeover or merger transactions to take place while reducing the need for staff to be physically present at workplaces.

Enforcement

SEBI Initiates Probe into Franklin Templeton Fund Closures

06/05/2020

SEBI is reported looking to determine whether the firm violated rules, breached its fiduciary duty, or failed to act in investors’ best interests.

Market Infrastructure

ECB Seeks Further Guidance from SWIFT on ISO 20022 Delay

06/05/2020

The request follows a March decision by SWIFT’s Board to extend the original timeline for implementation of ISO 20022 for cross-border payments by one year to end-2022.

AML / KYC

Requirement to Lodge Company Controller Data with ACRA Deferred

06/05/2020

ACRA says the two-month deferral is the result of operational and resource constraints faced by registered filing agents, and potential difficulties obtaining consent from clients.

Enforcement

Taiwan FSC Warns Lenders Not to Overcharge for Covid-19 Loans

06/05/2020

The FSC will investigate banks that charge unreasonably high handling fees to circumvent the interest rate cap on relief loans.

Hong Kong Set to Commence Fixed-rate Mortgage Pilot

06/05/2020

Under the six-month pilot scheme, participating banks will offer fixed-rate mortgage loans, capped at HK$10mn per loan transaction, and subject to a total aggregate cap of HK$1bn.

Capital / Liquidity

BSP Approves Measures to Boost Lending to MSME Sector

06/05/2020

The measures include lower risk weights for MSME loans, deferred implementation of the revised risk-based capital framework, and an extension of the relief period for reporting past due and non-performing loans.

Fintech / Regtech

SGX, AMTD Enter Partnership on Capital Markets Development

05/05/2020

The partnership will seek to promote Singapore’s capital market development, strengthen regional connectivity, support businesses, and explore the use of DLT in bond issuance.

Securities / Derivatives

China: Bond Underwriters Pledge to End Excessive Price Competition

05/05/2020

The pledge is part of a “self-discipline” pact which NAFMII asked bond underwriters to sign, in a bid to end the practice of offering ultra-low underwriting fees to gain market share.