Securities / Derivatives

SGX RegCo to Overhaul Enforcement Approach – Reports

31/12/2019

SGX RegCo chief Tan Boon Gin wants stronger protections against misconduct, faster enforcement outcomes and greater clarity to be provided to the market.

Enforcement

SFC Fines Fidelity Unit for Unlicensed Futures Dealing

31/12/2019

FIL Investment Management executed over 6,700 futures trades for overseas affiliates without a Type 2 licence, and delayed reporting the breach to the SFC.

Capital / Liquidity

UPDATE – RBI Tightens Scrutiny of Urban Cooperative Banks

31/12/2019

The RBI is tightening exposure limits, mandating that a larger proportion of loans come from small borrowers, and requiring bigger UCBs to report large exposures on a quarterly basis.

Market Infrastructure

BSP Extends Registration Deadline for Payment System Operators

30/12/2019

Existing payment system operators were given until 1 January to register with the BSP. This has been extended to 1 April 2020.

Enforcement

SEBI Fines Credit Rating Agencies Over IL&FS Failures

30/12/2019

Three rating agencies were fined for failing to recognise and quickly respond to deteriorating financial conditions at IL&FS, whose defaults last September triggered a liquidity crisis.

Fintech / Regtech

Open Banking Reveals Security Risks at Korean Fintech SMEs

30/12/2019

More than 40 fintech SMEs reportedly could not pass the security checks required for final approval to participate in the open banking initiative.

Market Infrastructure

BNM Issues Draft Responsibility Mapping Framework for FIs

30/12/2019

The framework will ensure that responsibilities and accountabilities for key functions at financial institutions are clearly allocated to appropriately senior and competent individuals.

Capital / Liquidity

CBIRC Issues Revised Regulations for Foreign Banks in China

30/12/2019

The revised regulations implement the removal of foreign ownership limits and asset thresholds for setting up local units, among other relaxations.

Market Infrastructure

Grab, SingTel Team Up to Apply for Singapore Digital Bank Licence

30/12/2019

Grab and Singtel will respectively hold a 60% and 40% stake in the new consortium entity, which will seek to serve both retail consumers and SMEs.