Enforcement

SFC Bans Former China Rise CEO for Naked Short Selling

01/04/2020

The ex-CEO was banned for 28 months for placing – and concealing – uncovered short selling orders through his personal account and a client’s discretionary account in 2014.

Securities / Derivatives

MAS, ACRA, SGX RegCo Update Guidance on Meeting Conduct

01/04/2020

Guidance is provided on holding general meetings in light of the current 10-person limit on attendance of any event in Singapore.

Securities / Derivatives

NZX Subsidiary to Assume Frontline Regulatory Functions

01/04/2020

The new subsidiary will be structurally separate from NZX’s commercial and operational activities and governed by a largely independent board.

Market Infrastructure

SEBI Asks Rating Agencies to Delay Default Recognition

31/03/2020

Market participants call SEBI’s move timely, amid fears of mass downgrades in light of the operational disruptions caused by Covid-19.

Securities / Derivatives

SFC Extends Deadlines on Three Regulatory Initiatives

31/03/2020

The deferred initiatives relate to new requirements on external data storage, client asset protection, and brokers’ systems for maintaining order life cycle data.

Market Infrastructure

Xiaomi-backed Virtual Bank Launches Hong Kong Pilot

31/03/2020

The pilot will allow 2,000 friends and relatives of Airstar, Xiaomi and AMTD Group employees to trial new virtual banking services under the HKMA’s sandbox.

Market Infrastructure

Fed Establishes Repo Facility to Ease USD Funding Stress

31/03/2020

Foreign central banks can temporarily exchange their US Treasury holdings with the Fed for US dollars, which can then be made available to institutions in their own jurisdictions.

MAS Unveils Debt Relief Measures for Individuals, SMEs

31/03/2020

Mortgage loans and SME term loans can be deferred. Credit card balances can be converted to low-cost term loans. Insurance payments can be deferred or rescheduled.

Securities / Derivatives

SEBI Extends Implementation Timelines on Key Market Reforms

31/03/2020

The new stewardship code for mutual funds is deferred three months. Portfolio managers, AIFs, and VC funds have two more months to comply with new disclosure requirements.