Enforcement

CBIRC Inner Mongolia Official Under Corruption Probe

28/12/2019

The case reportedly relates to the official’s supervision of Baoshang Bank which was taken over by regulators in May due to “serious credit risks”.

Securities / Derivatives

New Securities Law to Take Effect in China from March 2020

28/12/2019

A fourth and potentially final draft of China’s new Securities Law has been submitted to the NPC Standing Committee’s bimonthly session.

Fintech / Regtech

RBI Caps Lenders’ Exposures to P2P Platform Borrowers

28/12/2019

The RBI has set a 5mn rupee cap on the aggregate exposure a lender can have to borrowers on P2P lending platforms, and a 1mn rupee cap for lenders with a net worth under 5mn rupees.

Enforcement

China to Improve Mechanisms for Handling Bond Defaults

28/12/2019

Proposals include mechanisms for early detection and investigation of bond disputes, higher penalties for repayment failures, and lower costs for investors exercising litigation rights.

Market Infrastructure

ESMA Extends UK CCP Recognition to Guard Against No-Deal Brexit

27/12/2019

The temporary recognition decisions for LCH, ICE Clear Europe and LME Clear have been extended to 30 March 2021, in case of a no-deal Brexit scenario.

AML / KYC

BOJ Releases Summary Report on CBDC Legal Issues

27/12/2019

In light of the potential legal issues that may arise from a CBDC issuance by the Bank of Japan, more detailed discussion is needed.

Capital / Liquidity

Philippine Bourse Seeks Higher Capital Requirements for Brokers

26/12/2019

In the aftermath of a 700-million-peso stock theft, PSE president Ramon Monzon will reportedly propose to more than triple current capital requirements for older firms.

Market Infrastructure

RBI Allows IFSC Banks to Open Foreign Currency Current Accounts

26/12/2019

IFSC Banking Units will be allowed to open foreign currency current accounts for entities operating in Gift City, including non-resident institutional investors and corporate borrowers.

Market Infrastructure

Taiwan FSC Outlines Bank Examination Priorities for 2020

26/12/2019

The FSC’s Financial Examination Bureau will reportedly focus on compliance with rules on AML, corporate governance, information security, consumer protection and personal data protection.