Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Capital / Liquidity
Sri Lankan Brokers Prohibited from Charging Interest on Margin Loans
08/04/2020
The central bank has also suspended overseas investment and outward remittances by Sri Lankan residents, and cut interest rates for the second time in three weeks.
Market Infrastructure
ASIC, APRA Offer Best Practice Recommendations on LIBOR Transition
08/04/2020
ASIC, APRA and the RBA warn that a failure to transition to alternative reference rates could lead to significant reputational, operational and legal risk and disrupt financial markets.
Enforcement
RBI to Establish New Banking Fraud Oversight Division
08/04/2020
The initiative has reportedly been sped up in response to recent frauds at Yes Bank and Punjab National Bank.
AML / KYC
HKMA Encourages Remote Onboarding to Manage Covid-19 Challenges
07/04/2020
AIs and SVF licensees are encouraged to continue the provide the public convenient account opening and access to banking and payment services.
AML / KYC
OFSI Fines Standard Chartered $25m for Sanctions Breaches
07/04/2020
Standard Chartered made a series of loans to a Turkish private bank, which at the time was almost wholly owned by Sberbank, a sanctioned Russian bank.
Crypto / Digital Assets
FSA Japan to Enforce New Crypto Laws from May
07/04/2020
Changes to two pieces of legislation will ensure better investor protection, and bring custodians, ICOs, STOs and crypto derivatives under the FSA’s remit.
Capital / Liquidity
MAS Relaxes Capital Rules, Defers Policy Implementation
07/04/2020
MAS has adjusted banks’ capital and liquidity requirements to help sustain their lending activities, while also deferring a host of regulatory initiatives until further notice.
APRA Asks ADIs, Insurers to Suspend Dividends, Cash Bonuses
07/04/2020
Where Boards are confident they can approve a dividend on the basis of robust stress testing results that have been discussed with APRA, it should be at a “materially reduced level”.
Enforcement
SFC Fines HSBC Units for Cash Management Failures at Funds
07/04/2020
The identified concerns have all since been rectified, and the two units have agreed to pay over $430,000 into the affected funds, on top of a $451,000 fine from the SFC.
Enforcement
US Court Reverses 2017 Dismissal of Rate Rigging Suit Against Banks
07/04/2020
The decision effectively revives a suit by a group of investment funds against major banks over their alleged manipulation of yen LIBOR and euroyen TIBOR between 2006 and 2011.
JOIN OUR NEWSLETTER
A daily selection of top stories from the Regulation Asia editorial team