AML / KYC

SFC Fines BOCOM International Securities for “Serious” Breaches

20/04/2020

The brokerage did not have effective controls to identify third party deposits, and “extensive deficiencies” were found in its handling of margin lending and margin calls.

Capital / Liquidity

UPDATED – MSME Loans Can Be Counted Towards Reserve Requirements: BSP

20/04/2020

Loans granted to MSMEs can be counted as part of banks’ compliance with reserve requirements. Detailed guidelines will be issued in due course.

Securities / Derivatives

Bursa Malaysia Raises Share Issue Limits, Extends Filing Deadlines

20/04/2020

Listed issuers are allowed to increase the general mandate threshold for new securities issues from the existing 10% to 20% of the total number of issued shares.

Capital / Liquidity

S. Korea Eases Capital, Liquidity, Asset Quality Rules for FIs

20/04/2020

The FSC expects the regulatory relaxations will boost financial institutions’ capacity to provide up to 400 trillion won in additional financing to businesses.

Fintech / Regtech

PBOC Launches Digital Yuan Pilot Tests in Four Cities – Reports

20/04/2020

Four state-owned banks and three telecom companies, along with Tencent and Alipay, are all said to be involved in the development of the digital currency.

AML / KYC

Wolfsberg Group Updates Correspondent Banking Due Diligence Questionnaire

20/04/2020

The changes are focused on improving the CBDDQ’s ease of use and readability. One question has been eliminated and some of the wording has been clarified.

AML / KYC

Hong Kong: SME Director Gets 44 Months Jail for Loan Fraud

20/04/2020

The SME director was sentenced for conspiring to defraud five banks, the Trade and Industry Department, and the Hong Kong Mortgage Corporation.

Securities / Derivatives

CSRC Approves Credit Suisse Majority Control of Securities JV

20/04/2020

The approval allows Credit Suisse to raise its stake in a joint venture with Founder Securities from 33.3% to 51%, making it the latest foreign firm to gain majority control of a domestic brokerage in China.

AML / KYC

India Moves to Prevent ‘Opportunistic Takeovers’ by Chinese Investors

19/04/2020

India has introduced a pre-approval requirement for all foreign investment from seven countries including China to curb “opportunistic takeovers or acquisitions” of Indian companies.