Securities / Derivatives

Malaysia Allows Listed Companies to Defer Quarterly, Annual Reports

19/03/2020

Listed companies and REITs managers with a financial year-end of 31 December 2019 can also defer their AGMs.

Securities / Derivatives

HKEX to Introduce Master SPSA Service for Fund Managers

18/03/2020

The new service allows pre-trade checking of China A shares for northbound trading at the fund manager level rather than at the individual fund level.

Securities / Derivatives

SET Revises Circuit Breaker Mechanism to Curb Volatility

18/03/2020

The circuit breaker will be triggered in three stages instead of two. The ceiling and floor limits for securities and derivatives are also revised.

Securities / Derivatives

S. Korea Revises FX Derivatives Rule to Ease USD Funding Stress

18/03/2020

The limits on banks’ foreign currency forward positions will be raised to guard against a US dollar funding shortage amid a mass exodus of foreign capital.

Enforcement

AMP Units Pay ASIC Penalties for Trade Reporting Failures

18/03/2020

The AMP entities failed to report information about over 1,000 derivatives transactions and to correctly report collateral information about over 19,000 transactions over several years.

AML / KYC

S. Korea Approves Revisions to Legal Framework for Crypto

18/03/2020

The revision bill was introduced last November, and passed on 5 March. The government has now approved the revision act at a cabinet meeting on 17 March.

Market Infrastructure

SWIFT Defers ISO 20022 Start Date for Cross-border Payments

18/03/2020

ISO 20022 messages for cross-border payments and cash reporting businesses will start from end 2022 instead of November 2021 as originally planned.

Market Infrastructure

CBIRC Approves First National Bad Debt Manager in 20 Years

18/03/2020

Jiantou Citic Asset Management will transition into a financial asset management company, making it the first new national distressed debt manager authorised since 1999.

ESG / Sustainability

A Review of Post-GFC Regulatory Approaches to Bank Boards

18/03/2020

Of the 19 jurisdictions surveyed, all prescribe ‘fit and proper’ criteria to assess bank board members, however some authorities have no regulatory powers to approve their appointments.