Fintech / Regtech

Two Singapore Bodies Merge to Form New Blockchain Association

15/04/2020

The new industry body will be co-chaired by SFA president Chia Hock Lai and OneConnect Financial Technology’s APAC chief Ms Tan Bin Ru.

AML / KYC

CBIRC Simplifies Administrative Licensing for Trust Companies

15/04/2020

The licensing rules reflect the cancellation of a $1bn asset threshold previously required of foreign financial institutions that invest in domestic trust companies.

Enforcement

FSC Taiwan Probes Trading Controls at Hua Nan Securities

15/04/2020

Hua Nan Securities reportedly lost $158mn on derivative warrants in March as a result of poor internal controls.

Market Infrastructure

Cambodia: Securities Regulator to Undergo Digital Transformation

15/04/2020

The Securities and Exchange Commission of Cambodia will develop a digital reporting system and adopt technology requirements in its regulatory framework.

Securities / Derivatives

Thailand: SET Gets Powers to Respond to Market Disruptions

15/04/2020

In a market disruption event, the SET board now has the power to prohibit short selling and algorithmic trading on the spot, among other measures.

Bangladesh: Bankers Get Incentives to Work During Lockdown

15/04/2020

The central bank has ordered banks pay officers and employees full month salary for 10 days’ work during Covid-19 lockdown.

ASIC Eases Financial Advice Rules to Facilitate Super Withdrawals

15/04/2020

Under ASIC relief, advice providers, tax agents and superannuation trustees are allowed to advise consumers on early withdrawals of their superannuation savings.

ESG / Sustainability

IOSCO Forms Task Force to Address Sustainable Finance Issues

15/04/2020

The Task Force will work on sustainability and ESG disclosure challenges for investors, including to enhance transparency and address investor protection issues.

G7 Nations Back Debt Relief for Vulnerable Emerging Markets

14/04/2020

The G7 has declared its support for a temporary suspension of debt service payments due on official bilateral claims for all countries eligible for World Bank concessional financing.