Enforcement

CSRC to Punish 258 Firms Illegally Financing Margin Trading

09/07/2020

The CSRC warns that illegal lenders are offering margin loans via websites, mobile apps and social media, promising investors 10 times leverage and high profits.

AML / KYC

Chinese Banks Plan for Possible US Sanctions – Report

09/07/2020

Bank of China and ICBC are reportedly preparing for worst-case possibilities that they could be cut off from US dollars or lose access to US dollar settlements.

Securities / Derivatives

ASIC Directs Listed Firms to Disclose Covid-19 Impacts

09/07/2020

Firms should “tell the story” of how their businesses are impacted by the Covid-19 pandemic, including support and assistance received from government, lenders, landlords and others.

AML / KYC

Revised FATF Standards ‘Clearly Apply’ to Stablecoins

09/07/2020

Stablecoins are better placed than many virtual assets to achieve mass-adoption, which makes them vulnerable to AML/CTF risk, the FATF says.

Capital / Liquidity

BCBS Finalises Targeted Revisions to CVA Risk Framework

08/07/2020

Completion of the final adjustments to the CVA framework represents the conclusion of outstanding policy work related to the Basel III framework.

Fintech / Regtech

Denmark Introduces Mandatory Data Ethics Disclosure Rule

08/07/2020

From 1 January 2021, large and listed Danish companies will disclose information about their data ethics policy, AI tools and algorithms in annual reports.

Capital / Liquidity

APRA Extends Regulatory Approach For Covid-19 Loan Deferrals

08/07/2020

APRA will also allow banks to treat loans restructured by 31 March 2021 as ‘performing’ for capital and regulatory reporting purposes.

AML / KYC

New York Regulator Fines Deutsche Bank for AML Failures

08/07/2020

Deutsche Bank has been fined $150mn for its dealings with known sex trafficker Jeffrey Epstein and its correspondent banking relationships with Danske Bank Estonia and FBME Bank.

Securities / Derivatives

Record Korea Budget to Support Corporate Bond-buying

08/07/2020

The supplementary budget will cover a 1tr won capital injection for an SPV that will purchase low-rated corporate bonds and commercial paper.