Securities / Derivatives

Thailand Set for Launch of New ‘Super Savings Fund’ Scheme

05/03/2020

The new mutual fund scheme was initiated by the Finance Ministry, offering tax incentives to encourage investors to save and invest.

AML / KYC

Trade Misinvoicing a ‘Persistent Problem’ in Developing Countries

05/03/2020

Think tank Global Financial Integrity found $8.7tr in misinvoiced trade in the ten years from 2008 to 2017. Trade misinvoicing is one of the largest components of global illicit financial flows.

Market Infrastructure

Australia: FAR Extension Out of Step with Royal Commission Proposals

05/03/2020

The proposed extension of the Financial Accountability Regime to ASIC-regulated firms could potentially affect 53,000 small businesses, says former ASIC official Pamela Hanrahan.

Securities / Derivatives

HK Bourse Asks IPO Applicants to Detail Covid-19 Impacts, Contingency Plans

05/03/2020

The Hong Kong stock exchange has reportedly asked IPO applicants for information on supply chain disruptions, business contingency plans, and cash burn rates, among others.

Crypto / Digital Assets

Supreme Court Overturns RBI Circular Barring Banks from Crypto Dealings

04/03/2020

The ruling is hailed as a big win for the crypto sector. But, the government  has yet to act on an interministerial committee’s recommendations to ban all private cryptocurrencies.

Big Picture

Singapore Banks Among Most Vulnerable to Covid-19 Impacts: Fitch

04/03/2020

While Singaporean banks have sufficient loss-absorption buffers to withstand pressure, the impact will depend on the extent and duration of the outbreak.

Enforcement

Korea: Woori, Hana Barred from Selling PE Funds for Six Months

04/03/2020

Woori Bank and Hana Bank are additionally being fined 19.71bn and 16.78bn won, respectively, for mis-selling of derivatives-linked funds.

Thai Banks to Give Borrowers One-year Grace on Loan Repayment

04/03/2020

A yearlong grace period on loan repayments is reportedly being offered by banks to companies in the tourism sector, exporters, importers and retailers.

Market Infrastructure

Central Banks Act to Mitigate Covid-19 Economic Threat

04/03/2020

The HKMA has responded to the US rate cut with a cut of its own. The RBA and BNM have also cut their key policy rates, while the BOJ focuses on asset purchases.