Big Picture

CCP12 Highlights Remaining Transparency Issues in OTC Derivatives

17/02/2020

A new CCP12 paper highlights a lack of transparency in the amount of collateral posted in bilateral markets, which is needed to more accurately assess liquidity requirements and latent risks.

Market Infrastructure

Hong Kong Bankers Compare Covid-19 to ‘Nightmare’ Stress Test

17/02/2020

The actions being taken to combat the novel coronavirus are reportedly “very close” to those taken in a simulated exercise last October, which involved a pandemic, cyberattack and telecoms breakdown.

S. Korea to Deploy Emergency Measures to Minimise Covid-19 Impact

17/02/2020

The central bank is working on financial aid packages for the sectors directly affected by Covid-19, on top of the 1.9bn won package already announced by the government to aid SMEs and small merchants.

Securities / Derivatives

Bangladesh Banks to Get Credit Support for Stock Market Investment

17/02/2020

Stock market investment through the credit support package will not count towards the maximum allowed stock market exposure of 25% of capital.

Enforcement

APRA, ASIC Welcome Reforms on Superannuation Regulation

17/02/2020

ASIC will be focused on conduct issues involving superannuation trustees, while APRA will be focused on prudential supervision of trustee activities.

Enforcement

FSC Korea to Lower Derivatives Mis-selling Fines for Woori, KEB Hana

17/02/2020

The FSC will impose lower penalties than what was recommended by the FSS, citing the two banks’ cooperation and their agreements to compensate clients for damages.

Enforcement

ASIC Imposes Lifetime Ban on Macquarie Equities Adviser

17/02/2020

The adviser misrepresented the value of his client’s portfolio on 19 separate occasions, and engaged in trading without proper authority of the client.

Fintech / Regtech

HKMA Invites Tenders to Facilitate Regtech Adoption in Banking

17/02/2020

The HKMA is inviting tenders for the provision of professional services to help it facilitate the adoption of regtech by the banking industry.

Market Infrastructure

MAS Issues Guidance on Investment Suitability, Pricing in Private Banking

17/02/2020

MAS looks to private banks’ boards and senior management to ensure the effectiveness of policies, processes, controls and systems in sales and advisory practices, and to shape the staff behaviour.