Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Enforcement
Australia Eases Disclosure Rules to Prevent Opportunistic Class Actions
27/05/2020
Heightened uncertainty amid the Covid-19 crisis exposes companies to the threat of opportunistic class actions if their earnings forecasts are found to be inaccurate.
Market Infrastructure
China to Revise Central Bank Law This Year
27/05/2020
The revisions will likely expand the PBOC’s statutory responsibilities to include macro-prudential management, financial risk oversight, financial infrastructure and financial holding companies.
Capital / Liquidity
Philippines Approves ‘Bad Bank’ Bill Amid Rising NPLs
27/05/2020
The ‘Financial Institutions Strategic Transfer Act’ allows the creation of asset management companies to buy up non-performing assets from financial institutions.
Securities / Derivatives
CORRECTED – HKEX to Launch New Derivatives Products
27/05/2020
Subject to regulatory approval, 37 new futures and options contracts based on MSCI Asia and emerging markets indices will be launched in Hong Kong.
Capital / Liquidity
FSS Korea Directs Banks to Defer Business Expansion
27/05/2020
FSS governor Yoon Suk-heun said financial firms should brace for a “prolonged fallout of Covid-19” and focus on boosting internal reserves and loss absorbency capacity.
AML / KYC
Are Criminals Winning at Covid-19? Not Without a Fight
27/05/2020
Advances in digital identification technology can mitigate the unpleasant rise in pandemic-related financial crime. A top regulator, banker and lawyer join forces with Refinitiv to discuss how.
China: Banks Directed to Cut Enterprise Financing Costs
26/05/2020
A new guideline jointly published by six agencies aims to further regulate how banks charge for and manage credit financing, protect borrowers’ rights, and reduce financing costs.
Capital / Liquidity
PBOC Governor Pledges Additional Measures to Support SMEs, Banks
26/05/2020
The PBOC plans to further extend SME loan repayment deferrals to 31 March 2021, further drive down real interest rates, and bolster support for banks.
Enforcement
APRA Blamed for Scrapped Class Action Against IOOF
26/05/2020
A Quinn Emanuel class action “was no longer in the interests of group members to continue” following last year’s dismissal of APRA’s lawsuit against IOOF.
Fintech / Regtech
ACCC Launches Consumer Data Right Accreditation Platform
26/05/2020
The platform serves as a trusted environment where approved participants can share encrypted data, and provides a portal through which banks and fintechs can apply to be accredited.
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