Securities / Derivatives

S. Korea Unveils New Corporate Asset Purchase Programme

15/06/2020

KAMCO, a state-run distressed asset manager which was deployed during the 1997 financial crisis, will set up a special purpose vehicle to buy up corporate assets for fair market prices.

Fintech / Regtech

FSC Korea Outlines Key Policy Tasks for H2 2020

14/06/2020

The measures include continued support for businesses and individuals, with some focus being diverted back to pre-Covid policy work to support innovation and data-driven initiatives.

Market Infrastructure

EC Proposes Simplified Approach to Supervising Non-EU CCPs

14/06/2020

Under the new approach, third-country CCPs that are not deemed systemically important will only be subject to basic ESMA supervision, relying on ‘comparable compliance’.

Securities / Derivatives

ASIC Issues Guidance on Listed Company Executive Pay Decisions

14/06/2020

The high-level guidance set out specific factors boards and remuneration committees should consider when exercising discretion on executive variable pay in the current environment.

Market Infrastructure

RBI Updates Oversight Framework for FMIs, Retail Payment Systems

14/06/2020

The framework details the oversight objectives, supervisory processes and assessment methodology the RBI will apply to financial market infrastructures and retail payment systems.

Securities / Derivatives

CSRC Green-lights Trading in Six New Commodity Options Contracts

14/06/2020

The ZCE will launch trading steam coal options; the DCE will launch polypropylene, PVC and LLDPE options; and the SHFE will launch aluminum and zinc options.

Market Infrastructure

PBOC Grants Bank Card Clearing Licence to Amex JV

14/06/2020

American Express has become the first foreign company to receive a network clearing licence in China, which will allow it to compete with Tencent, Alipay and China UnionPay for market share.

AML / KYC

AUSTRAC Ups Ante in Westpac Money Laundering Case

14/06/2020

AUSTRAC has requested information from Westpac on additional child exploitation cases the bank detected in its lookback, potentially to use in penalty negotiations.

Enforcement

Malaysia: Former Trust Consultant Jailed for Securities Fraud

13/06/2020

The former consultant promised investors guaranteed returns but used the monies they paid for share trading in her personal account.