Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
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.
AML / KYC
SFC Proposes Enhancements to OFC Regime
23/12/2019
The changes include a mechanism for overseas corporate funds looking to re-domicile in Hong Kong. OFCs will also have to keep a register of beneficial shareholders.
AML / KYC
Wolfsberg Group Urges ‘Effectiveness’ Emphasis in AML/CTF Programmes
23/12/2019
FIs are devoting resources to maximise technical compliance, while not necessarily optimising detection or deterrence of illicit activity, the Wolfsberg Group says.
Market Infrastructure
Governance, Accountability in Focus in Phase Two Review of RBNZ Act
23/12/2019
The government will progress a number of key ‘in-principle’ decisions of the review by enacting two separate Acts to replace the Reserve Bank of New Zealand Act 1989.
Fintech / Regtech
ICMA Publishes DLT Regulatory Directory and Brief
23/12/2019
The directory and brief seek to provide a non-exhaustive overview of recent DLT regulatory guidance, legislative initiatives, strategy papers and other publications in selected jurisdictions.
AML / KYC
Westpac Faces Shareholder Class Action for Possible Disclosure Failures
23/12/2019
The class action, filed by law firm Phi Finney McDonald, will rest on whether Westpac breached disclosure obligations or misled investors about the extent of its AML compliance failures.
Capital / Liquidity
APRA Modifies Large Exposures Framework for ADIs
23/12/2019
APRA has extended the exemption for government-related entities to connecting counterparties involving economic interdependence and control relationships.
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