ESG / Sustainability

New Zealand Consults on Mandatory Climate Risk Reporting

06/11/2019

The discussion document sets out a proposed mandatory regime which seeks to ensure that material risks and opportunities are routinely considered in business and investment decisions.

Market Infrastructure

RBI Issues Stricter Rules on Bank Executive Compensation

06/11/2019

Executive compensation should be at least 50% variable, and at least 60% of the variable pay must be deferred for at least three years, subject to malus/clawback arrangements.

Market Infrastructure

CHESS Replacement Project Creates Unfair Advantage: Chi-X Australia

05/11/2019

Chi-X Australia depends entirely on ASX for clearing services, and is concerned that the larger bourse could use the CHESS replacement project to gain further competitive advantages.

Securities / Derivatives

TWSE Mulls New Measures to Boost Liquidity in Inactive Stocks

05/11/2019

Under a proposed new system, brokerage firms would perform the role of market makers for a guaranteed number of stocks, effectively making low-liquidity stocks easier to trade.

Capital / Liquidity

Capital Buffers Are Designed to Be Used: BCBS

05/11/2019

Banks that draw down on their buffers in times of stress are not deemed to be in breach of their minimum regulatory capital requirements.

Capital / Liquidity

Singapore Banking Amendment Bill Introduced in Parliament

05/11/2019

The bill will remove the DBU-ACU divide, expand the grounds for which MAS can revoke bank licences, and empower MAS to regulate outsourcing arrangements.

Fintech / Regtech

S. Korea Establishes Legal Basis for P2P Lending Businesses

05/11/2019

Korea has passed new legislation establishing a legal basis for the operation of P2P lending businesses and the regulatory oversight role of the FSC and FSS.

Enforcement

China Forestry Liquidators File Lawsuit Against Pre-IPO Auditor

05/11/2019

The plaintiffs allege that KPMG “negligently failed to identify that they were the victims of a serious and pervasive false accounting by former members of executive management.”

AML / KYC

OCBC Enables Instant Bank Account Opening for Startups

05/11/2019

OCBC Enables Instant Bank Account Opening for Startups