Enforcement

China: Luckin Investors Launch Lawsuit Under New Securities Law

26/04/2020

A lack of cross-border regulation presents a challenge to holding Luckin Coffee entities and executives to account for alleged misconduct and fraud.

Tax Records Can Provide Banks Assurance for SME Loans: CBIRC

26/04/2020

Small and micro enterprises which cannot provide collateral or guarantees for loans can instead share their tax payment information with commercial banks to obtain funding.

Securities / Derivatives

SEBI Eases Mutual Fund Valuation Norms for Debt Securities

26/04/2020

Valuation agencies need not consider payment delays and maturity extensions resulting from Covid-19 as defaults when valuing money market and debt securities held by mutual funds.

Fintech / Regtech

Open Banking: ACCC Allows Flexibility to Delay Product Data Sharing

26/04/2020

Non-major banks, building societies and credit unions can delay sharing product reference data until 1 November, but are encouraged to begin sharing this data “if they are in a position to do so”.

Capital / Liquidity

Hong Kong Gazettes Banking Rule Amendments to Implement SA-CCR

25/04/2020

The final Basel III standards on SA-CCR and on capital requirements for CCP exposures will come into operation in Hong Kong on 30 June 2021, subject to negative vetting.

Bangladesh Bank Forms $1.8b Lending Facility for Banks, NBFIs

25/04/2020

Under the new scheme, lenders will be able to borrow funds from Bangladesh Bank at 4% and on-lend those funds to industrial and services sector borrowers at 9%.

Capital / Liquidity

BSP Eases Asset Cover Rules for Banks’ FX Exposures

25/04/2020

Banks can offset foreign currency asset cover deficiency incurred on one or more days of the week with excess cover from other days of the same or immediately succeeding weeks.

Enforcement

FSC Taiwan Fines Investment Trust for Intranet Loopholes

24/04/2020

A Capital Investment Trust fund manager reportedly bought shares in dozens of companies that he knew would be purchased in the funds he helped manage.

Indian Banks Asked to Submit Lending Reports Daily

24/04/2020

The Finance Ministry has asked for data on the volume and scale of loans, as well as particulars on what sectors are getting them.