Fintech / Regtech

AUSTRAC, Home Affairs Dept Highlight Benefits of Blockchain

18/02/2020

The Department of Home Affairs and AUSTRAC say blockchain has the potential to significantly reduce compliance costs and the regulatory burden imposed on reporting entities.

Fintech / Regtech

SEBI Approves Live Sandbox Testing for Regulated Entities

18/02/2020

SEBI-registered entities can test new products, services and business models on a limited set of customers, for a specified period of time, with certain regulatory relaxations.

Securities / Derivatives

China: Fees Hinder Entry of Foreign Distressed Debt Funds – Report

18/02/2020

Offshore funds have to rely on accounting and law firms throughout the three- to four-year life cycle of a transaction in China, at cost of up to 15% of the transaction’s value.

PBOC Injects Funds, Sterlises Bills to Contain Virus Epidemic

18/02/2020

The PBOC has lowered the interest rate on its medium-term lending facility, injected 100bn yuan in liquidity via reverse repos, and ordered banks to disinfect yuan bills.

Securities / Derivatives

Whistleblowing Policy to Become Mandatory for SGX Listed Companies

18/02/2020

SGX RegCo chief Tan Boon Gin wants to hardcode a whistleblowing policy into the Listing Rules to make compliance mandatory. A consultation will be launched in June.

AML / KYC

PBOC Fines Three FIs, 24 Officers for AML Compliance Failures

18/02/2020

China Minsheng Bank, China Everbright Bank and Huatai Securities have been fined a combined 52mn yuan for failures in customer identification, transaction reporting and record keeping.

Big Picture

CCP12 Highlights Remaining Transparency Issues in OTC Derivatives

17/02/2020

A new CCP12 paper highlights a lack of transparency in the amount of collateral posted in bilateral markets, which is needed to more accurately assess liquidity requirements and latent risks.

Market Infrastructure

Hong Kong Bankers Compare Covid-19 to ‘Nightmare’ Stress Test

17/02/2020

The actions being taken to combat the novel coronavirus are reportedly “very close” to those taken in a simulated exercise last October, which involved a pandemic, cyberattack and telecoms breakdown.

S. Korea to Deploy Emergency Measures to Minimise Covid-19 Impact

17/02/2020

The central bank is working on financial aid packages for the sectors directly affected by Covid-19, on top of the 1.9bn won package already announced by the government to aid SMEs and small merchants.