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.

Fintech / Regtech

HKMA Offers High-level Guidance for Banks on AI Use

02/11/2019

The high-level principles cover governance, application design and development, and ongoing monitoring and maintenance of banks’ AI applications.

AML / KYC

Malaysian Banks Force Closures of Iran-linked Accounts

02/11/2019

CIMB and Maybank are two of the largest banks forcing closures of accounts belonging to Iranian companies and individuals, amid new sanctions imposed by the US.

Fintech / Regtech

SFC Issues Guidance on Outsourcing of Data Storage

01/11/2019

Licensed corporations must ensure cyber and operational risks are properly mitigated and that the SFC’s access to regulatory records is not restricted or otherwise undermined.

Enforcement

SFC Fines China Rise for Short Selling, Cross Trading Breaches

31/10/2019

China Rise’s former CEO placed 199 illegal short selling orders in 2014, and an unnamed senior manager executed cross trades at a price detrimental to the client.