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.

Enforcement

CBIRC Fines Eight Banks Over Poor Quality of Reported Data

13/05/2020

The banks were each fined between 1.6mn and 2.7mn yuan for underreporting information on certain transactions, wealth management products, and credit asset transfers.

AML / KYC

1MDB Tainted Swiss Bank to Exit Private Banking Business

13/05/2020

Falcon Private Bank was forced to shut down its Singapore operations in 2016. Nearly four years later, it has decided to exit private banking in Switzerland.

AML / KYC

Industry Bodies Publish New Messaging Standard for Virtual Assets

13/05/2020

The messaging standard is aimed at helping virtual asset service providers comply with FATF requirements to collect and transfer originator and beneficiary information.

Enforcement

CBIRC Probes China CITIC Bank Over Leaked Personal Data

13/05/2020

Last week, a Chinese stand-up comedian accused the bank of disclosing his personal transaction information to his employer without consent.