AML / KYC

Requirement to Lodge Company Controller Data with ACRA Deferred

06/05/2020

ACRA says the two-month deferral is the result of operational and resource constraints faced by registered filing agents, and potential difficulties obtaining consent from clients.

Enforcement

Taiwan FSC Warns Lenders Not to Overcharge for Covid-19 Loans

06/05/2020

The FSC will investigate banks that charge unreasonably high handling fees to circumvent the interest rate cap on relief loans.

Hong Kong Set to Commence Fixed-rate Mortgage Pilot

06/05/2020

Under the six-month pilot scheme, participating banks will offer fixed-rate mortgage loans, capped at HK$10mn per loan transaction, and subject to a total aggregate cap of HK$1bn.

Capital / Liquidity

BSP Approves Measures to Boost Lending to MSME Sector

06/05/2020

The measures include lower risk weights for MSME loans, deferred implementation of the revised risk-based capital framework, and an extension of the relief period for reporting past due and non-performing loans.

Fintech / Regtech

SGX, AMTD Enter Partnership on Capital Markets Development

05/05/2020

The partnership will seek to promote Singapore’s capital market development, strengthen regional connectivity, support businesses, and explore the use of DLT in bond issuance.

Securities / Derivatives

China: Bond Underwriters Pledge to End Excessive Price Competition

05/05/2020

The pledge is part of a “self-discipline” pact which NAFMII asked bond underwriters to sign, in a bid to end the practice of offering ultra-low underwriting fees to gain market share.

Capital / Liquidity

BNM: Banks Can Use Govt Bonds to Meet Reserve Requirement

05/05/2020

The move is expected to release about $3.7mn of liquidity into the banking system. BNM has also cut its overnight policy rate to the lowest level since 2009.

Market Infrastructure

HK Regulators Establish Green and Sustainable Finance Steering Group

05/05/2020

Initiated by the HKMA and SFC, the Steering Group will coordinate across other agencies and sectors to position Hong Kong as a global leader in green and sustainable finance.

Securities / Derivatives

Sri Lanka to Implement New Stock Market Circuit Breaker

05/05/2020

Sri Lanka’s SEC has directed the Colombo Stock Exchange to implement the new circuit breaker structure when the market reopens after its closure on 20 March.