AML / KYC

Cambodia Approves Draft Laws to Curb Money Laundering

20/05/2020

The draft bills were reportedly motivated by Cambodia’s placement on the FATF’s ‘grey-list’ last year, which impacts foreign investment and the economy.

Capital / Liquidity

Woori to Seek FSS Approval to Use IRB Approach

20/05/2020

Higher expected capital adequacy under the internal ratings-based approach for calculating risk-weighted assets will help to fuel M&A activity at the bank.

Enforcement

New Listing Rules at Nasdaq to Impede Chinese IPOs – Reports

19/05/2020

Nasdaq will put a minimum $25mn value on the size of IPOs, making it harder for some Chinese firms to pursue a listing. A delisting notice has been filed against Luckin Coffee.

Capital / Liquidity

APRA Grants Internal Modelling Banks Relief on Market Risk Capital

19/05/2020

APRA will allow internal modelling banks to disregard back-testing exceptions that occurred in March and April when determining capital requirements for market risk.

Securities / Derivatives

HSI Operator to Allow Dual Class Shares as Index Constituents

19/05/2020

WVR and secondary-listed companies from the Mainland will be eligible for including in the HSI and HSCEI. H-share companies with unlisted share capital will also be eligible.

Securities / Derivatives

FSC Korea to Rein in Excessive Investment in Risky ETFs, ETNs

19/05/2020

The FSC will impose a new minimum deposit requirement on retail investors investing in ETFs and ETNs, and require them undergo mandatory investor education, among other measures.

Securities / Derivatives

India to Allow Private Companies to List on Foreign Exchanges

19/05/2020

Private companies will be able to list in ‘permissible jurisdictions’ – likely to include the US, China, Japan, South Korea, the UK, Hong Kong, France, Germany, Canada and Switzerland.

Securities / Derivatives

European Regulators Lift Covid-19 Short Selling Bans

19/05/2020

In consultation with ESMA, Austria, Belgium, France, Greece, Spain and Italy have decided to lift short-selling bans that have been in place since mid-March.

Market Infrastructure

DTCC Explores Further Digitalisation in Public & Private Markets

19/05/2020

Project Ion seeks to further optimise the settlement process in public markets. Project Whitney explores the use of asset tokenisation and digital infrastructure to support private markets.