Big Picture

Banking Regulation, Innovation Responsible for Shadow Bank Growth

29/04/2020

Regulatory burden on banks and technological improvements are likely the two most important factors behind shadow bank growth, a new paper says.

AML / KYC

PBOC Penalties for AML Violations Spike in Q1 2020

29/04/2020

The increase in penalties is in part the result of a new calculation method in use at the PBOC, where penalties can now accumulate when multiple breaches occur at once.

India Brings to Life Unified Regulator for IFSCs

29/04/2020

The new authority can now appoint members and employees, set up funds and apply tax exemptions, but other regulatory and supervisory powers have not yet taken effect.

Fintech / Regtech

Beijing Fintech Regulation Pilot to Expand to Six Other Cities

29/04/2020

The expanded pilot programme will seek to guide FIs and fintech firms towards exploring the use of technology to support small firms with funding difficulties.

Enforcement

Korea: FSS Confirms ‘Bad Bank’ Plan to Recover Lime Asset Losses

29/04/2020

FSS governor Yoon Suk-heun also pledged to establish a sustainable monitoring system, in light of events at Lime Asset Management and last year’s derivative product mis-selling at banks.

Securities / Derivatives

Malaysia SC Eases Rules for Issuing Convertible Notes to VC, PE Firms

28/04/2020

The flexibilities are aimed at easing the fundraising process for MSMEs as well as small and mid-cap companies, making it more cost-effective and reducing time to market.

Securities / Derivatives

CBIRC Instructs Banks to Halt Risky Crude Oil Products – Reports

28/04/2020

The verbal directions came nearly a week after an estimated $1.4bn in losses were recorded in a crude oil futures trading product sold by Bank of China.

Big Picture

Privacy Concerns, Bank Mistrust Lead to Higher Cash Use: Study

28/04/2020

The findings suggest that government policy to promote electronic payments may have to address fundamental concerns about privacy and confidence in financial institutions.

Securities / Derivatives

SGX, CITIC Securities Agree to Collaborate Across Borders

28/04/2020

SGX and CITIC Securities will collaborate on FICC, REIT, equity, debt and related derivatives markets, among other areas.