Securities / Derivatives

SC Malaysia Asks Fund Managers to Ramp Up Liquidity Stress Testing

12/04/2020

Stress testing should be conducted more regularly to assess the impact on fund liquidity and redemptions, and to pre-empt liquidity shortages before they occur.

Australia Commences Coronavirus SME Guarantee Scheme

12/04/2020

The 50% government guarantee under the scheme enables lenders to offer loans to SMEs “cheaply and more freely compared to ordinary business loans”.

New Zealand: Mortgage Deferrals Will Not Impair Credit Ratings

10/04/2020

Banks have agreed with credit reporting agencies that customers who defer mortgage repayments due to Covid-19 will not have their credit ratings downgraded.

AML / KYC

MAS, ABS Push Greater Adoption of Digital Financial Services

10/04/2020

The Association of Banks in Singapore, support by MAS, is offering incentives to encourage uptake and usage of peer-to-peer funds transfer service PayNow.

Fintech / Regtech

FSC Korea Moves to Support Corporate, Fintech Funding Needs

10/04/2020

Korea’s bond market stabilisation fund has begun operating. Additional support will come through a new bond underwriting programme, P-CBOs, and direct investment into fintechs.

Securities / Derivatives

SGX Marks First Listing of Dual Class Shares in Digital Ceremony

10/04/2020

AMTD International’s listing ceremony was SGX’s first to be conducted digitally with a live global broadcast. It was also the first SGX listing of a NYSE company.

Securities / Derivatives

SFC Raises Concerns with Leveraged Foreign Exchange Trading

10/04/2020

Brokers reported that more than 60% of clients who engage in leveraged foreign exchange trading made net trading losses, some in excess of HK$1mn.

AML / KYC

FSB Publishes Stage 1 Report on Enhancing Cross-Border Payments

09/04/2020

New technologies have the potential to facilitate fast, low cost, transparent and scalable payments, but should be accompanied by measures to address all relevant risks.

Enforcement

CBIRC Penalises Anxin Trust $2mn for Misappropriating Assets

09/04/2020

The misappropriation involved the transfer of assets from trust products to company shareholders, and the illegal use of assets to make payments for other products, among other purposes.