Enforcement

SFC Fines Adamas Asset Management for Disclosure Failings

24/12/2019

The asset manager was fined HK$2.5mn for filing 339 incorrect or late notifiable interest disclosures to the SEHK and eight listed companies.

Market Infrastructure

PayPal Obtains Online Payments Licence in China

24/12/2019

PayPal’s acquisition of a majority stake in Gopay gives it access to licences that allow it to offer online, mobile and cross-border renminbi payments.

Enforcement

CFTC Charges HSBC Exec with Manipulation, Fraud

24/12/2019

The former head of HSBC’s North American interest rates business allegedly manipulated prices for five-year basis swaps used to price a bond issuance and a related swap.

Securities / Derivatives

Japan Solicits Feedback on Revised Stewardship Code

24/12/2019

The changes add expectations that sustainability issues will be considered in the investment process, and introduce expectations for service providers.

Enforcement

ASIC Launches Court Proceedings Against Volkswagen Financial Services

24/12/2019

ASIC says Volkswagen contravened the responsible lending provisions of the National Credit Act in relation to 49,380 loan contracts.

APRA Issues 2nd Consultation Package on Superannuation Data Collection

24/12/2019

APRA has released two topic papers addressing the most urgent gaps in its data collection, particularly for choice products and investment options.

Market Infrastructure

Macau Banks Encouraged to Set Up on Mainland: CBIRC

24/12/2019

China has unveiled a raft of policies to increase financial cooperation with Macau, largely seen as a reward for the city’s adherence to ‘One Country, Two Systems’.

Market Infrastructure

Amundi-BOC Wealth Management JV Wins CBIRC Approval

23/12/2019

The joint venture is expected to launch during the second half of 2020. Amundi will own a 55% stake while BOC Wealth Management will own the other 45%.

Capital / Liquidity

Taiwan Lowers D-SIB Surcharge Following Complaints from Banks

23/12/2019

The new rules ask Taiwan’s five D-SIBs to keep their capital ratios 2 percentage points higher than other banks, compared to 4 percentage points higher in the previous version.