Enforcement

CLSA, CITIC Securities Censured for Breaching Share Buyback Rules

02/01/2020

CLSA and CITIC Securities carried out pre-arranged trades on the SEHK to allow Beijing Enterprises Holdings to buyback its shares without regulatory or shareholder approval.

ESG / Sustainability

BNM Publishes Draft Taxonomy to Help FIs Classify Climate Risks

02/01/2020

Supervised institutions are expected to integrate climate-related risks and considerations into their business strategies and risk management practices, BNM says.

Market Infrastructure

China Banks, Insurers Urged to Develop Foreign Trade-related Services

02/01/2020

New guideline asks banks and insurers to develop foreign trade-related financial services to help develop bilateral trade between China and key jurisdictions, including the ‘Belt and Road’ countries.

Enforcement

Indian Police Lay Charges Against Five in PMC Bank Fraud Case

01/01/2020

The 32,000-page charge sheet lays out charges against three executives from PMC Bank and two promoters of HDIL, which received about 67bn rupees in ‘hidden’ loans.

Securities / Derivatives

SGX RegCo to Overhaul Enforcement Approach – Reports

31/12/2019

SGX RegCo chief Tan Boon Gin wants stronger protections against misconduct, faster enforcement outcomes and greater clarity to be provided to the market.

Enforcement

SFC Fines Fidelity Unit for Unlicensed Futures Dealing

31/12/2019

FIL Investment Management executed over 6,700 futures trades for overseas affiliates without a Type 2 licence, and delayed reporting the breach to the SFC.

Capital / Liquidity

UPDATE – RBI Tightens Scrutiny of Urban Cooperative Banks

31/12/2019

The RBI is tightening exposure limits, mandating that a larger proportion of loans come from small borrowers, and requiring bigger UCBs to report large exposures on a quarterly basis.

Market Infrastructure

BSP Extends Registration Deadline for Payment System Operators

30/12/2019

Existing payment system operators were given until 1 January to register with the BSP. This has been extended to 1 April 2020.

Enforcement

SEBI Fines Credit Rating Agencies Over IL&FS Failures

30/12/2019

Three rating agencies were fined for failing to recognise and quickly respond to deteriorating financial conditions at IL&FS, whose defaults last September triggered a liquidity crisis.