Enforcement

Former CSRC Shandong Official Expelled from CCP For Graft

10/12/2019

Xu Tie was placed under investigation earlier this year, 6 years after his retirement from the Shandong bureau of the CSRC.

Capital / Liquidity

ASIC Offers Clarity on Responsible Lending Obligations

09/12/2019

ASIC has clarified when a licensee might undertake more or less detailed inquiries and verification steps based on different consumer circumstances and the type of credit being sought.

Market Infrastructure

ESMA Recognises India’s MCX Clearing Corp as Third Country CCP

09/12/2019

The recognition allows European participants to apply lower risk weights on their exposures to MCX CCL, which will translate to lower capital requirements.

Fintech / Regtech

Beijing to Pilot Fintech Regulatory Framework

09/12/2019

The pilot will allow the PBOC to explore regulatory tools that it can use as part of a nationwide supervisory framework for fintech.

Securities / Derivatives

SEBI Proposes Mandatory Benchmarking of Alternative Investment Funds

09/12/2019

Alternative investment funds with at least a three-year track record will have to be benchmarked against industry peers and their performance disclosed to investors.

Market Infrastructure

MiFID II Has Not Delivered Lower Market Data Costs: ESMA

09/12/2019

ESMA is calling for a real-time consolidated tape for equity instruments to improve transparency and remedy the fragmentation in European capital markets.

Securities / Derivatives

HKEX Reviews Listing Regime for Debt Issues to Professional Investors

09/12/2019

HKEX wants to raise the minimum net asset requirement for issuers from HK$100mn to HK$1bn, and to introduce a minimum debt issuance size of HK$100mn, among other proposals.

Fintech / Regtech

Japan Probes Barriers Preventing Fintechs Access to Zengin System

09/12/2019

Japan’s antitrust agency is looking into how banks decide fees for using the national interbank funds transfer system and whether they present an entry barrier for fintechs.

Market Infrastructure

China Raises Foreign Ownership Limit for Insurers to 51pc

09/12/2019

The move paves the way for a complete scrapping of the foreign ownership restrictions for insurance joint ventures next year.