Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Securities / Derivatives
China: Bond Underwriters Pledge to End Excessive Price Competition
05/05/2020
The pledge is part of a “self-discipline” pact which NAFMII asked bond underwriters to sign, in a bid to end the practice of offering ultra-low underwriting fees to gain market share.
Capital / Liquidity
BNM: Banks Can Use Govt Bonds to Meet Reserve Requirement
05/05/2020
The move is expected to release about $3.7mn of liquidity into the banking system. BNM has also cut its overnight policy rate to the lowest level since 2009.
Market Infrastructure
HK Regulators Establish Green and Sustainable Finance Steering Group
05/05/2020
Initiated by the HKMA and SFC, the Steering Group will coordinate across other agencies and sectors to position Hong Kong as a global leader in green and sustainable finance.
Securities / Derivatives
Sri Lanka to Implement New Stock Market Circuit Breaker
05/05/2020
Sri Lanka’s SEC has directed the Colombo Stock Exchange to implement the new circuit breaker structure when the market reopens after its closure on 20 March.
Market Infrastructure
Korea Development Bank Act Amended to Enable Bailout Fund
05/05/2020
Aid recipients will have to maintain staff in employment and refrain from dividend payouts, share buybacks and executive compensation.
Securities / Derivatives
Malaysia: SC Allows E-wallet, E-payment Firms to Distribute Investment Products
05/05/2020
Operators of e-wallet or e-payment applications can register with the SC and partner with capital markets licence holders to distribute investment products to investors.
AML / KYC
FATF Offers Policy Guidance for Managing Covid-19 Related AML Risks
05/05/2020
FATF describes the ways in which AML/CFT policy responses can help support implementation of Covid-19 response measures, while also managing new risks and vulnerabilities.
Capital / Liquidity
Philippines: BSP Allows Banks to Draw on Capital, Liquidity Buffers
05/05/2020
Banks that draw from the capital conservation buffer or fall below 100% LCR will not be considered in breach of Basel III rules.
AML / KYC
Westpac Internal Probes Identify More AML Breaches
04/05/2020
Westpac has identified an estimated 60,000 to 90,000 threshold transaction reports that were not reported to AUSTRAC, and potential problems with its FATCA and CRS compliance.
Market Infrastructure
HSBC Seeks CBIRC Approval to Fully Acquire Insurance JV
04/05/2020
HSBC’s insurance unit has entered into an agreement to buy the remaining 50% equity interest in its China joint venture – HSBC Life China.
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