Securities / Derivatives

SEBI Extends Mutual Fund Deadlines for Lowering Unlisted Debt Holdings

30/04/2020

Mutual funds will now have until 30 September to reduce their holdings of unlisted non-covertible debentures to 15% of assets, and until 31 December to reduce it to 10%.

Capital / Liquidity

BSP Relaxes Loan Classification Norms, MSME Loan Risk Weight

30/04/2020

The relaxation of loan classification norms and the lowering of credit risk weights on MSME loans will apply until end-December 2021.

Market Infrastructure

FCA Extends Deadline for Lenders to Stop Issuing New LIBOR Loans

30/04/2020

The deadline extension for lenders is a response to Covid-19, as the FCA seeks to avoid disrupting the flow of loans to help companies stay afloat during the pandemic.

Capital / Liquidity

FSC Korea Defers Tighter Supervision of Financial Conglomerates

30/04/2020

The FSC has approved revisions to enhance capital adequacy assessments, internal control systems, and disclosure standards of financial conglomerates.

Hong Kong Records Higher Negative Equity Mortgage Loans

30/04/2020

The negative equity loans are related to housing loans provided to bank staff or under mortgage insurance programmes, which tend to have higher loan-to-value ratios.

Enforcement

ASIC Quadrupled Criminal Charges Laid in H2 2019

30/04/2020

In the six months to December 2019, ASIC did not have any new enforceable undertakings, reflecting its post-Royal Commission ‘why not litigate’ approach to enforcement.

SFC Offers Guidance on Cyber Risk of Remote Office Arrangements

29/04/2020

In a circular, the SFC sets out examples of controls and procedures to help licensed corporations protect their internal networks and data.

AML / KYC

FATF Postpones Mutual Evaluations, Follow-up Deadlines

29/04/2020

All mutual evaluations and follow-up deadlines are postponed, and FATF will review grey-list jurisdictions in October rather than June as previously scheduled.

AML / KYC

G20 TechSprint Invites Firms to Develop Regtech, Suptech Solutions

29/04/2020

Private firms are invited to develop solutions to improve regulatory reporting, crypto asset AML monitoring, and supervisory information sharing.