AML / KYC

Tiger Brokers NZ, Six Others Get Formal Warning for AML Failures

06/04/2020

A public warning was issued to NZX-accredited Tiger Brokers, and six additional private warnings unnamed businesses or individuals.

Market Infrastructure

RBI Reduces Market Hours to Curb Volatility

06/04/2020

During India’s lockdown, currency, bond and money markets will operate for only 4 hours. SEBI has also brought forward the cut-off times for the mutual fund industry.

Securities / Derivatives

Japan: Corporates to Get Financial Support, Easier Write Down Rules

06/04/2020

The FSA will convene a joint council of key industry bodies to agree on easier write-down rules, while the government prepares an aid package for large corporates.

Bangladesh Announces Measures to Aid Businesses Through Lockdown

06/04/2020

Under a $7.9bn stimulus plan, banks will distribute working capital loans with the interest cost to businesses partly subsidised by the government.

Vietnam Banks Offered Incentives to Aid Businesses

06/04/2020

About 11% of total outstanding loans in the banking system are estimated to not be paid as scheduled due to the coronavirus pandemic.

Enforcement

CSRC Opens Investigation into Fraud at Coffee Chain

06/04/2020

The chief operating officer of Nasdaq-listed Luckin Coffee, along with his employees, are said to have fabricated about $310mn worth of sales transactions.

Capital / Liquidity

BCBS Issues Guidance on Treatment of Loans Under Relief

05/04/2020

IFRS 9 should be applied flexibly rather than mechanistically when estimating ECL, and payment moratorium periods can be excluded from the counting of days past due.

Market Infrastructure

Japan Lacks Consensus on LIBOR Replacement – Report

05/04/2020

About 57% of Japanese banks say TIBOR should be used, while about 70% of companies prefer to use forward-looking term rates based on TONAR.

Capital / Liquidity

HKMA Frees Up Regulatory Reserves, Liquidity Buffers for Banks

05/04/2020

Regulatory reserves held against possible credit losses will be reduced by half. Banks are encouraged to use liquidity buffers built up under the LCR and LMR regimes.