Philippines Adopts Guidelines for Bank Reporting of Intraday Liquidity

07/01/2020

Universal banks, commercial banks and their subsidiary thrift banks and quasi-banks are required to submit the ‘report on intraday liquidity’ by end-June 2021, and every month thereafter.

Market Infrastructure

RBI Names Six ‘Significant’ Financial Benchmarks

06/01/2020

Financial Benchmarks India Pvt Ltd has three months to make an application to the RBI for authorisation to continue administering the benchmarks.

Enforcement

Korea: Lime Asset Faces Legal Action for Concealing Hedge Fund Losses

06/01/2020

Lime Asset Management suspended redemptions in three funds in October. One of them had 240bn won invested with New York-based IIG, which has since been charged with securities fraud.

Market Infrastructure

Philippines Approves Introductory Rules for Islamic Banking

06/01/2020

The BSP has released guidelines for the establishment of Islamic banks and Islamic banking units in the Philippines, along with a newly-approved Shari’ah governance framework.

Market Infrastructure

BNM Issues Revised Equity Exposure Rules for FIs

06/01/2020

Financial institutions need BNM’s prior written approval to acquire or hold 20% or more of the voting shares or voting power in a corporation. Compliance is required by 31 December 2021.

Securities / Derivatives

SZSE, CSDC Issue Implementing Rules for ‘Full Circulation’ of H-Shares

06/01/2020

Full circulation will allow shareholders of mainland companies to convert non-tradeable, domestically-held shares into H-shares for trading in Hong Kong.

Enforcement

Shanghai Bourse Launches New Market Surveillance System

06/01/2020

The new monitoring system will enhance the effectiveness of front-line supervision, ensure fair transactions, and promote the stable and healthy development of the capital market, the SSE says.

Securities / Derivatives

Philippine SEC Approves Implementing Guidelines on Short Selling

06/01/2020

The new implementing guidelines address concerns over the effect of SBL and short selling transactions on trading participants’ books and records, error transactions, and capital adequacy.

AML / KYC

CBIRC Tightens Scrutiny of AML/CTF Programmes at Banks, Insurers

06/01/2020

Banks and insurers are required to submit annual reports on their AML/CTF programmes within 20 working days after the end of each year. For 2019, the reports should be submitted by 15 February 2020.