Fintech / Regtech

Beijing Fintech Regulation Pilot to Expand to Six Other Cities

29/04/2020

The expanded pilot programme will seek to guide FIs and fintech firms towards exploring the use of technology to support small firms with funding difficulties.

Enforcement

Korea: FSS Confirms ‘Bad Bank’ Plan to Recover Lime Asset Losses

29/04/2020

FSS governor Yoon Suk-heun also pledged to establish a sustainable monitoring system, in light of events at Lime Asset Management and last year’s derivative product mis-selling at banks.

Securities / Derivatives

Malaysia SC Eases Rules for Issuing Convertible Notes to VC, PE Firms

28/04/2020

The flexibilities are aimed at easing the fundraising process for MSMEs as well as small and mid-cap companies, making it more cost-effective and reducing time to market.

Securities / Derivatives

CBIRC Instructs Banks to Halt Risky Crude Oil Products – Reports

28/04/2020

The verbal directions came nearly a week after an estimated $1.4bn in losses were recorded in a crude oil futures trading product sold by Bank of China.

Big Picture

Privacy Concerns, Bank Mistrust Lead to Higher Cash Use: Study

28/04/2020

The findings suggest that government policy to promote electronic payments may have to address fundamental concerns about privacy and confidence in financial institutions.

Securities / Derivatives

SGX, CITIC Securities Agree to Collaborate Across Borders

28/04/2020

SGX and CITIC Securities will collaborate on FICC, REIT, equity, debt and related derivatives markets, among other areas.

SFC, Competition Commission Agree to Cooperate, Share Information

28/04/2020

The SFC and the Competition Commission can consult each other on issues with significant implications for the other and share information where appropriate.

Enforcement

CSRC Vows Cross-border Cooperation in Luckin Fraud Case

28/04/2020

The CSRC has been communicating with US regulators, looking to deepen cross-border cooperation to combat misconduct and fraud and to protect investors.

Securities / Derivatives

Shenzhen’s ChiNext Moves Closer to Market-based IPO System

28/04/2020

The new registration-based IPO system will simplify the months or years companies typically have to wait before listing their shares.