Securities / Derivatives

FSC Korea Eases Five Percent Rule in Support of Shareholder Rights

23/01/2020

Reporting requirements are being eased for investors seeking to exercise shareholder rights in relation to corporate governance, executive pay and dividend policy.

AML / KYC

China Issues Guidelines on Facial Recognition Enabled Payments

23/01/2020

The guidelines set out principles for the use of facial recognition technology in payments, covering user consent and the collection, storage and use of facial data.

Enforcement

SFC Launches Proceedings Against China Ding Yi Feng Manipulators

23/01/2020

On its first day of trading after a 10-month suspension, China Ding Yi Feng has lost 90% of its value, representing HKD 25 billion in lost market value.

Market Infrastructure

Singapore, Brunei Central Banks to Expand Cooperation

23/01/2020

MAS and AMBD have committed to new areas of cooperation, including financial sector development, cross-border supervision, crisis management and AML/CFT.

Market Infrastructure

HKMA Consults on Contractual Stay Provisions in Financial Contracts

23/01/2020

FIs will have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during bank resolution.

Enforcement

CFTC Penalises Australian Firm for Spoofing by Former Trader

23/01/2020

The CFTC has ordered Propex Derivatives to pay $1mn, comprising restitution, disgorgement, and a civil monetary penalty. The DOJ has also entered a deferred prosecution agreement with the firm.

Fintech / Regtech

HKMA, BOT Announce Outcomes of Joint CBDC Research

23/01/2020

In 3Q 2019, eight Thai banks and two Hong Kong banks (HSBC and ZA Bank) participated in a THB-HKD cross-border corridor network PoC using a CBDC.

Bank of Thailand Relaxes Mortgage Lending Rules

22/01/2020

For homes worth more than THB 10 million, first home buyers have to pay a minimum down payment of 10%, compared to 20% earlier.

CBIRC Enhances Complaints Handling Mechanisms in Banking, Insurance

22/01/2020

Banks and insurers are required to complete complaints handling processes within 15 days in cases where the facts are clear and the matter in dispute are simple.