Emerging Prudential Risks

PBOC Rules for Conglomerates to Limit Systemic Risk: Fitch

18/10/2020

Fitch Ratings says the new regulations for conglomerates with interests in financial services will help contain systemic risks by limiting irregular financial activities and misconduct.

Trading & Investment

China Vows to Improve Quality of Listed Companies

18/10/2020

A new State Council guideline promotes the issuance of domestic shares to purchase overseas assets, and greater inbound investment from qualified foreign investors.

Market Abuse

Hong Kong: CMBC Capital, Directors Penalised for Late Disclosure

18/10/2020

CMBC Capital did not make information about significant improvement in the company’s financial performance public in a timely manner.

KYC & CDD

SoW/SoF Checks: What Does Good Look Like?

18/10/2020

Regulation Asia spoke to financial crime compliance experts about the ongoing effort required to achieve and maintain high standards for source of wealth and source of funds checks.

Trading & Investment

HKMA Expects Adherence to ISDA IBOR Fallbacks Protocol

18/10/2020

The HKMA expects authorised institutions to adhere to the Protocol before it takes effect and to encourage counterparties to do the same.

Trading & Investment

FSB Sets Out Global Transition Roadmap for LIBOR Phaseout

18/10/2020

By end-2020, firms should be in a position to offer non-LIBOR loans to customers. By 25 January, firms should adhere to the ISDA fallbacks protocol.

Anti-Money Laundering

APG Releases First Follow-up Report on Pakistan

18/10/2020

The APG says Pakistan has been re-rated from ‘partially compliant’ to ‘compliant’ on Recommendation 29 and has made progress on Recommendation 1.

Emerging Prudential Risks

New Corporate Restructuring Fund Kicks Off in Korea, FSC Says

16/10/2020

The fund is expected to serve as a stepping stone for the establishment of a more vibrant corporate restructuring ecosystem, the FSC said.

Trading & Investment

MAS Grants BondEvalue Recognised Market Operator Licence

16/10/2020

BondEvalue operates BondbloX Bond Exchange, a blockchain-based exchange that allows for bonds to be traded in USD 1,000 lots.