Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Securities / Derivatives
SEBI Relaxes Public Shareholding Requirement for Listed Entities
16/05/2020
The move will mean promoters with more than 75% shareholding in a listed company will not have to divest their holdings while the current challenging environment persists.
AML / KYC
Westpac Files Defence in Federal Court on its AML/CTF Failures
16/05/2020
While Westpac made a number of admissions regarding AUSTRAC’s claims, the bank said the majority of its international money transfers were correctly reported.
Enforcement
SFC Declines to Take Action Against HSBC for No-dividend Decision
15/05/2020
Some investors in HSBC alleged the bank failed to safeguard their interests. Others questioned whether the bank’s discussions with the Bank of England were disclosed in a timely manner.
Market Infrastructure
CCP Margin Models May Need Fine-tuning: BIS Paper
15/05/2020
Some CCP margin models underestimate market volatility because they rely on a short period of historical price movements from tranquil times, the paper says.
Uncategorised
ISDA Publishes Final Report on Pre-cessation Fallbacks for LIBOR
15/05/2020
ISDA expects to publish amendments to the 2006 ISDA Definitions to incorporate the fallbacks for new trades in July, along with a protocol to allow participants to incorporate the revisions into legacy trades.
Capital / Liquidity
Sri Lanka Central Bank Bans Dividends, Share Buybacks at Banks
15/05/2020
Foreign banks are prohibited from repatriating profits. LCR and NSFR requirements have been reduced to 90%. Banks are told to refrain from non-essential expenditures.
Market Infrastructure
China Issues Guidelines on Greater Bay Opening Up
15/05/2020
The PBOC will pilot cross-border PE and VC investments and explore the establishment of a futures exchange in Guangzhou and an international commercial bank to serve Greater Bay Area.
Market Infrastructure
China Admits Fitch Subsidiary into Onshore Credit Rating Market
15/05/2020
China had committed to removing restrictions on US credit rating agencies entering its markets under the trade agreement with the US in January.
ESG / Sustainability
Hong Kong Launches New Certification Scheme for ESG Funds
14/05/2020
The new green finance certification scheme for ESG funds is an extension of the HKQAA’s certification service for green funds, launched in September 2019.
Securities / Derivatives
ASIC Withdraws Trading Limits Imposed on Equity Market Participants
14/05/2020
Trading restrictions imposed in March due to an abnormally large increase in trades executed have been revoked following processing enhancements by market operators.
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