Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Enforcement
ASIC Secures Remediation for Junk Insurance Sales by Banks
14/05/2020
ASIC has secured A$160mn in remediation for consumers and plans to take enforcement action against lenders who sold junk consumer credit insurance products.
Fintech / Regtech
FSC Korea to Assess Demand for New MyData Licences
14/05/2020
Financial firms and fintechs approved by the FSC will be able to make financial product recommendations and offer financial advisory services on the new MyData platform.
Securities / Derivatives
Sri Lankan Bourse Reopens to Trading Halts After 7-week Haitus
14/05/2020
The Colombo Stock Exchange opened for trading for the first time in seven weeks on Monday, triggering trading halts on its new circuit breaker mechanism.
Securities / Derivatives
SGX Probes Societe Generale Over Timeliness of Disclosure
14/05/2020
As a goodwill gesture, SocGen will extend a one-off payment to investors who suffered losses trying to short-sell Singapore Airlines with daily leverage certificates.
Capital / Liquidity
Bangladesh Restricts Dividend Payments by Banks
14/05/2020
It is necessary to maintain the cash flow by strengthening the banks’ capital during the coronavirus pandemic, Bangladesh Bank said.
Market Infrastructure
RBNZ Announces Expansion of Asset Purchase Programme
14/05/2020
The RBNZ’s bond-buying programme will be capped at NZ$60bn, up from the NZ$33bn announced in March. Government inflation-indexed bonds are also now included.
Securities / Derivatives
Trump Orders Federal Pension Fund to Halt Plans to Invest in China
13/05/2020
The Federal Retirement Thrift Investment Board had planned to benchmark its international exposures to an MSCI index that would channel up to $4.5bn into Chinese equities.
Market Infrastructure
HKMA Launches ‘Greenness’ Assessment Framework
13/05/2020
Around 50 AIs will initially be expected to complete the assessment for end-2019 within 12 weeks. Other AIs are encouraged to reflect on their readiness to address climate and environmental risks.
Fintech / Regtech
MAS, SFA, AMTD Jointly Launch S$6m ‘FinTech Solidarity Grant’
13/05/2020
Fintechs can apply for a one-time grant to cover daily working capital expenses, or for funding to cover proofs-of-concept developed with financial institutions on APIX.
AML / KYC
SEBI Names Entities That Can Authenticate Aadhaar for e-KYC
13/05/2020
Intermediaries and mutual fund distributors that want to use Aadhaar authentication services for e-KYC are required to enter into an agreement with one of the eight entities named.
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