Securities / Derivatives

Quarterly Reporting Required for 109 Companies: SGX

11/02/2020

94 companies required to use quarterly reporting are issuers with audit concerns, 6 have outstanding regulatory concerns, and 9 are named under both categories.

Capital / Liquidity

PBOC Offers Banks Low-Cost Funding to Support Epidemic Control

11/02/2020

Banks are required to use the special funding to support activities by companies directly linked to controlling the outbreak through loans issued at below-market interest rates.

Enforcement

Australia Passes Bills to Enhance Consumer Protections, Strengthen ASIC

10/02/2020

The bills introduce a best-interests duty for mortgage brokers, ban unfair contract terms in insurance, and enable ASIC to more effectively enforce existing laws.

S. Korean Government Pledges $1.6b to Support New SME Loans

10/02/2020

Funding will be provided through policy banks to help SMEs, small merchants, and self-employed business owners address financing challenges amid the coronavirus outbreak.

Fintech / Regtech

DBS Completes First Fully Digital Trade Financing Settlement on NTP

10/02/2020

DBS was able to cut the trade financing processing time from about a week to under one working day, yielding greater operational efficiencies for trade partners.

Fintech / Regtech

S. Korea’s KakaoPay Green-lit to Offer Brokerage Services

10/02/2020

The FSC has granted final approval to KakaoPay allowing it to acquire Baro Investment & Securities and enter the brokerage services space.

HSBC Provides Relief to Customers Impacted by Outbreak

10/02/2020

HSBC becomes the latest Hong Kong bank to announce relief measures for business owners impacted by the novel coronavirus and its effects on the economy.

AML / KYC

US Treasury Issues 2020 National Strategy for Combatting Illicit Finance

10/02/2020

The document highlights increased transparency, an improved supervisory framework for FIs, and enhanced operational capabilities as three strategic priorities for the US AML/CFT regime.

MAS Issues Advisory to FIs Amid Higher Coronavirus Alert Level

10/02/2020

MAS asks financial institutions to ensure business continuity and warns that cyber threat actors are taking advantage of the novel coronavirus situation to conduct email scams, phishing and ransomware attacks.