Market Infrastructure

RBI Reorganises Regulation, Supervision Departments

04/11/2019

The RBI has integrated all its supervision functions into a unified ‘Department of Supervision’, and its regulatory functions into a unified ‘Department of Regulation’.

Market Infrastructure

S. Korea Passes Benchmark Legislation, Seeks BMR Equivalence

04/11/2019

The new legislation will strengthen the management and supervision of financial benchmarks and their administrators, the FSC said.

Fintech / Regtech

Hong Kong Enables Govt Bill Payment Via FPS QR Code

04/11/2019

Bills related to tax, government rates and rent, and water will be issued with FPS QR codes moving forward.

Market Infrastructure

Korea Passes Legislation to Enable Asia Region Funds Passport

04/11/2019

The legislative revision to implement the ARFP in Korea will take effect after six months, and will allow Korean funds to be eligible for offer in other member economies.

Capital / Liquidity

PBOC, CBIRC Forced to Reassure Depositors After Bank Run

04/11/2019

Authorities were forced to step in after depositors rushed to withdraw their savings from Yichuan Bank amid rumours that the bank was insolvent and a corruption probe into the bank’s former chairman.

Fintech / Regtech

PBOC Unveils 40 Measures to Develop Shanghai Fintech Sector

04/11/2019

Among the key measures announced by PBOC Shanghai is the possible introduction of a regulatory sandbox, drawing on international practice.

Securities / Derivatives

BSE, NSE Increase Margin Requirements for Certain Stocks

04/11/2019

The higher margins apply to stocks with a higher levels of promoter pledges, market cap, trader concentration and volatility.

Enforcement

ASIC Initiates Civil Penalty Proceedings Against Former ANZ Business

04/11/2019

ASIC says that RI Advice Group, acquired by IOOF from ANZ last year, failed to take reasonable steps to ensure that one of its advisers, John Doyle, provided appropriate advice and acted in clients’ best interests.

Enforcement

Annual Report Shows FMA Exceeded Litigation Budget by 50pc

03/11/2019

The government has approved a three-fold increase in the FMA’s litigation fund to NZ$6mn for the 2019/2020 year, a day before the annual report was released.