Capital / Liquidity

BCBS Proposes Risk Weight Floor for NPL Securitisations

23/06/2020

The BCBS identified a gap in the regulatory framework for securitisations of non-performing loans, which it is seeking to address through a new technical amendment.

AML / KYC

SFC Bans Former Guosen Head of Dealing for 12 months

23/06/2020

The head of dealing “turned a blind eye” to internal control deficiencies in relation to third party deposits brought to her attention by its staff since 2013.

Fintech / Regtech

BOK to Boost AI Capabilities Through Kakao Partnership

23/06/2020

Kakao Enterprise’s AI technology will initially be used for task support such as taking meeting minutes, before the partnership later expands to support BOK policy-making.

Market Infrastructure

UK to Grant FCA Additional Powers to Facilitate LIBOR Retirement

23/06/2020

Legislative amendments will empower the FCA to prohibit or limit the use of LIBOR, or to direct a change in its methodology, to address the issue of ‘tough legacy’ contracts.

AML / KYC

India to Restrict Foreign Ownership of Pension Funds

23/06/2020

Under draft rules, government approval will be required for investment in an Indian pension fund from land-border countries including China; a 49% cap is proposed for other foreign investors.

BOT Announces ‘Phase 2’ Measures to Support Debtors

23/06/2020

Lenders are directed to sustain debtors through lower interest rates and fees, expanded credit limits, delayed property seizures, and other debt relief and restructuring measures.

Securities / Derivatives

Bangladesh Bank Eases Foreign Investor Repatriation Policy

23/06/2020

Remittances of share sale proceeds to non-resident foreign investors no longer need prior approval from the central bank if pricing is determined based on the net asset value approach.

Fintech / Regtech

MAS Seeks Cooperation with China on Green Finance

23/06/2020

MAS managing director Ravi Menon suggests that China and Singapore work together to create frameworks for green and sustainability-linked loans, customised for Chinese and Singaporean SMEs.

Securities / Derivatives

ASX Calls for Reforms Around Class Actions, Litigation Funding

22/06/2020

The benefit of securities class actions may disproportionately benefit litigation funders rather than plaintiffs in those proceedings, with the costs falling on the shareholders, ASX says.