Trading & Investment

FSC Korea to Enhance Regulatory Framework for Crowdfunding

17/06/2020

SMEs will be allowed to raise funds through crowdfunding platforms, and the capital raising limit will be raised, among other enhancements to the existing framework.

Liquidity Risk

BOJ Expands Coronavirus Lending Programme to Over $1tr

16/06/2020

BOJ governor Haruhiko Kuroda indicated that the total size of the programme could rise further, particularly if a second wave of Covid-19 infections emerges.

Trading & Investment

OCBC Issues Singapore’s First SORA-based Loan Facility

16/06/2020

The S$150mn three-year corporate loan from OCBC to CapitaLand is hailed as a milestone in the industry’s transition roadmap towards SORA adoption.

Market Abuse

Former CSRC Official Jailed for 12 Years for Bribery, Insider Trading

16/06/2020

The case against the CSRC’s former Hunan bureau head was said to be linked to a probe into CSRC former vice chairman Yao Gang, who was jailed for 18 years in 2018.

Conduct, Culture & Accountability

ASIC Directs Investment Funds to Correct False Advertising

16/06/2020

Investment funds were falsely being promoted as having little or no risk of capital loss, where higher returns were highlighted without adequate disclosures of risk.

Payments & Settlements

MUFG Bank Secures China Interbank Bond Market Licence

16/06/2020

MUFG Bank’s wholly-owned China subsidiary has become the first Japanese bank – and the eight foreign bank overall – to win a Bond Settlement Agent licence.

Operational Risk

MAS Issues Directions on Safe Re-opening of Financial Sector

16/06/2020

Although access to in-person services will expand, MAS “strongly encourages” FIs and their customers to continue using digital financial services and e-payments as much as possible.

Structural Regulation

CSRC to Ease Rules for Major Shareholders of Securities Firms

16/06/2020

The profitability, net assets and experience requirements will be relaxed for major shareholders of securities companies.

Anti-Money Laundering

PBOC Promises Crackdown on Illegal Overseas Gambling

16/06/2020

Payments industry stakeholders are directed to strengthen customer identification, report suspicious transactions, and improve surveillance.