Enforcement

Woori Financial Chair Seeks Injunction Against FSS Sanctions

10/03/2020

If the injunction is granted, it could clear the path for Woori Financial Group chairman Sohn Tae-sung to lead the group for another three-year term.

Fintech / Regtech

JPX to Test DLT Information Sharing in Securities Post Trade

10/03/2020

The pilot testing will seek to address inefficiencies in the securities post-trade process that arise as a result of data and workflow mismatches between trading counterparties.

Securities / Derivatives

CSRC Loosens Rules on Venture Capital Divestment

10/03/2020

The move is said to be aimed at strengthening support for the real economy by allowing VC and PE firms to more quickly reinvest in startup firms.

Australia: ‘Perfect Storm’ of Regulatory Change Squeezing Smaller Banks

09/03/2020

The Customer Owned Banking Association is calling for the government to reassess the approaching wave of banking regulation, as record low interest rates squeeze margins.

RBNZ, NZBA Say Banks ‘Ready to Respond’ to Covid-19 Impacts

09/03/2020

The RBNZ has inquired into the risk management approaches and preparedness for COVID-19 at banks, and the responses show they are prepared, according to governor Adrian Orr.

Securities / Derivatives

SEBI to Restrict Corporate Guarantees Extended by Listed Companies

09/03/2020

Under the proposal, listed companies will only be allowed to provide guarantees based on “economic interest”, and subject to prior approval from the majority of minority shareholders.

Securities / Derivatives

Myanmar to Open Stock Market to Foreign Investors from 20 March

09/03/2020

Both resident and non-resident foreign investors, including overseas brokers and banks, will be allowed to open securities accounts with local brokers to trade on the Yangon Stock Exchange.

Market Infrastructure

Taiwan to Launch New Credit Reporting Platform at End-March

09/03/2020

The TWSE says the new platform will enhance risk management for securities firms and banks, which currently use different platforms to perform credit checks.

Market Infrastructure

Standard Chartered-backed Virtual Bank to Launch Later This Year

09/03/2020

Standard Chartered, PCCW, HKT and Trip.com will launch ‘Mox Bank’ later this year, introducing an all-in-one numberless bank card.