Structural Regulation

ASIC Grants Regulatory Relief for Companies Planning IPOs

28/08/2020

ASIC is granting relief for voluntary escrow arrangements and pre-prospectus communications to security holders and employees to reduce IPO red tape.

Operational Risk

APRA Imposes Licence Conditions on NAB Unit NULIS Nominees

28/08/2020

NULIS Nominees is required to improve its governance and control environment, and ensure members’ best interests are prioritised in its decision-making.

Trading & Investment

CSOP Launches First ETF Tracking New Hang Seng TECH Index

27/08/2020

Several other asset managers have submitted applications to regulators seeking to issue similar ETFs based on the new index, which tracks Hong Kong’s 30 largest tech listings.

ESG Data

Taiwan CSD Launches Consolidated Access to ESG Ratings

27/08/2020

FTSE Russell, ISS ESG, MSCI and Sustainalytics have collaborated with TDCC to launch a new ESG Dashboard that provides consolidated access to ESG ratings.

Supervision & Enforcement

CSRC Publishes Classification Results for Securities Firms

27/08/2020

The classification reflects securities firms’ governance structures, risk management capabilities, continuous compliance status, and business development status.

Structural Regulation

CSRC Offers to Allow PCAOB to Inspect State-owned Entities – Report

27/08/2020

The CSRC proposes to allow the PCAOB to choose any Chinese state-owned enterprises for trial inspections, though information related to national security would be redacted.

Liquidity Risk

FSC Korea Extends Easier Liquidity Requirement for Banks

26/08/2020

The lower liquidity coverage ratio was scheduled to end in September, but the FSC has decided to extend the relaxed requirements until end-March.

Anti-Money Laundering

ASIC Ends Years-old Probe into CBA’s AML Breaches

26/08/2020

ASIC will not be pursuing further enforcement action against Commonwealth Bank for the AML breaches that in 2018 resulted in a A$700mn settlement with AUSTRAC.

Reporting & Disclosures

Taiwan FSC Releases Corporate Governance, Sustainability Roadmap

26/08/2020

From 2024, all financial firms and listed companies with paid-in capital over $340mn will be required to have at least one-third of their boards made up of independent directors.