Enforcement

S. Korea: Covid-19 Loans Exempted From Misconduct Sanctions

09/04/2020

Financial services workers delivering emergency support funds to businesses in need will be exempt from misconduct sanctions.

Enforcement

UPDATED – ASIC Commences Legal Proceedings For False Advertising

09/04/2020

ASIC alleges that companies in the Mayfair 101 Group promoted debenture products to wholesale investors using phrasing that falsely implied they were comparable to bank term deposits.

Securities / Derivatives

RBI to Open Up Rupee Derivatives for Hedging from 1 June

09/04/2020

Authorised dealers and can allow users to trade rupee derivatives up to USD 10 million notional value outstanding without the need to establish the existence of underlying exposures.

Fintech / Regtech

Korea: FSS Enhances Supervision with Artificial Intelligence

09/04/2020

The FSS has been applying AI to monitor insurance telemarketing, loan collections and online advertising, as well as to analyse complaints and PE fund reports.

Market Infrastructure

Indonesia Has Adopted Measures to Implement PFMI: CPMI-IOSCO

09/04/2020

Since the 2019 update, Indonesia and Saudi Arabia have finished adopting measures that will enable them to implement the PFMIs for all financial market infrastructure types.

Fintech / Regtech

MAS Unveils Support Package to Bolster Financial Sector Capabilities

08/04/2020

The package includes training allowances, IBF course subsidies, salary support, digital acceleration grants, and free access to API Exchange.

AML / KYC

HSBC Reports Possible AML Breaches at Australian Subsidiary

08/04/2020

Where appropriate, provisions have been made against possible penalties for underreporting of cross-border transactions and other investigations, reviews and inquiries that may involve the bank.

Capital / Liquidity

HKMA Reduces AIs’ Regulatory Reserve Requirement

08/04/2020

The regulatory reserve release should be used to support customers impacted by Covid-19, and not to distribute dividends, buy back shares or pay bonuses.

Securities / Derivatives

SGX RegCo Suspends Issuer Watch List, Raises Share Issue Limits

08/04/2020

The measures will help SGX issuers to focus on meeting current business and economic challenges and accelerate fund-raising efforts to address liquidity issues.