Enforcement

SFC Imposes Lifetime Ban on Former China Citic Bank Employee

26/08/2020

The former relationship manager is said to have falsely represented to customers that an additional fee was needed to open an account with CITIC – which he then pocketed.

Securities / Derivatives

Thailand SEC to Allow Repo, Reverse Repo Trades by Retail Investors

25/08/2020

Allowing repo and reverse repo trades in listed securities and unit trusts with all investor types will provide them additional liquidity management tools, the SEC said.

Capital / Liquidity

FSB Publishes ‘Key Attributes’ Assessment Methodology for Insurance

25/08/2020

The methodology will guide the assessment of how well a jurisdiction’s insurance resolution framework aligns with the FSB’s Key Attributes for effective resolution regimes.

Capital / Liquidity

S. Korea Progresses Bill on Financial Conglomerate Supervision

25/08/2020

The bill provides the legal basis for the supervision of non-holding financial groups such as Samsung, Hanwha, Kyobo, Mirae Asset, Hyundai Motor, and DB.

Capital / Liquidity

China: Banks May Sell Subordinated Debt to Local Govts for Capital

25/08/2020

Regulators are reportedly considering allowing small and midsized banks to sell subordinated debt to local governments to replenish tier 2 capital.

Enforcement

ASIC: Financial Advice-related Compensation Tops A$1bn

24/08/2020

NAB accounts for about two-thirds of the total number of customers that received or were offered compensation as a result of fees-for-no-service misconduct or non-compliant advice.

Securities / Derivatives

CBIRC Green-lights BlackRock-Temasek-CCB Joint Venture

24/08/2020

The wealth management joint venture is said to have received approval to commence establishment, with control resting with the two foreign institutions.

Fintech / Regtech

Hong Kong AoF Publishes Report on AI Adoption in Banking

23/08/2020

The report provides insights about the risk management frameworks and overarching supervisory principles banks use when adopting artificial intelligence.

Capital / Liquidity

China: Top Court Cuts Private Lending Rates Nationwide

23/08/2020

Private lenders can charge a maximum four times the one-year loan prime rate. Based on the current rate, the maximum lending rate is 15.4%, compared to 24% previously.