Securities / Derivatives

Korea FSS Pledges to Improve Environment for Foreign FIs

03/12/2019

At a meeting with bank and asset manager heads, the FSS promised to lower regulatory and operational barriers for foreign firms looking to enter Korea’s financial markets.

Market Infrastructure

China Issues Measures to Clean Up Credit Ratings Industry

03/12/2019

The measures are part of China’s efforts to clean up the ratings industry and open up to foreign competition, in order to boost foreign participation in the domestic bond markets.

Securities / Derivatives

SEBI Sets Earlier Cut-Off Time for Commodity Margin Computations

03/12/2019

The 5pm cut-off, compared to 11.30pm currently, will make it easier for trading members to compute and collect client margins, effective from April 2020.

Securities / Derivatives

BSP Relaxes Requirements on Issuance of Debt Instruments

03/12/2019

Related companies of issuing banks are allowed to underwrite or arrange LTNCTDs, bonds and commercial papers, subject to certain conditions.

APRA Releases Practice Guide for Super Performance Reviews

03/12/2019

The business performance review requirement requires an RSE licensee to undertake a holistic assessment of its performance across its business operations, services and product offerings.

Enforcement

ASIC Reports Widespread Fee Disclosure Failures at AFS Licensees

03/12/2019

ASIC’s review found widespread non-compliance with fee disclosure obligations across a sample of AFS licensees and their representatives, suggesting an industry-wide problem.

Fintech / Regtech

South Korea to Formally Launch Open Banking System This Month

02/12/2019

October’s 10-bank pilot attracted over 5.5 million bank accounts with the open banking service now expanded to include eight additional banks and fintech firms.

ASIC, APRA Ink Updated MoU to Enhance Collaboration

02/12/2019

The updated MoU was a royal commission recommendation to enable more proactive engagement between the two regulators.

Chinese P2P Lenders to Close in Two Years

02/12/2019

Approved lenders can opt to convert to small finance companies in the two year grace period, as authorities moved to shut down the scandal-ridden sector.