Enforcement

CBA’s CommInsure Penalised A$700,000 for Hawking Offences

29/11/2019

The penalty follows last week’s guilty plea from CommInsure for conducting insurance sales by phone, where the customers had not requested to be contacted.

Securities / Derivatives

SGX RegCo Proposes Removal of Minimum Trading Price Rule

29/11/2019

SGX RegCo is proposing to scrap the MTP rule in light of its suite of other measures to deal with market manipulation, including the pairing of trading restrictions with ‘Trade with Caution’ alerts.

Enforcement

SEBI Probes Exchanges, Brokers for Failure to Detect Karvy Fraud

29/11/2019

An NSE audit found that Karvy Stock Broking pledged 20 million rupees in client securities with various lenders to raise funds for its own use.

ESG / Sustainability

BSP to Phase In ESG-related Regulations for Banks

28/11/2019

The first phase will involve high-level principles on ESG integration. The second will provide granular expectations. The third will cover regulatory incentives.

Capital / Liquidity

Vietnam Further Restricts Use of Short Term Deposits for Loans

28/11/2019

Currently, 60% of medium- and long-term loans can be financed with short term deposits. This ratio reduces to 40% in January.

Capital / Liquidity

RBNZ to Adopt More Intensive Supervisory Approach to Banking

28/11/2019

The RBNZ’s financial stability report says it will bolster bank resilience with higher capital requirements and a “more intensive supervisory approach“.

Capital / Liquidity

BCBS Issues Guidance on Sectoral Countercyclical Capital Buffer

28/11/2019

The SCCyB is a targeted tool that national authorities can use to temporarily impose additional capital requirements that directly address the build-up of risks in a specific sector.

Securities / Derivatives

CFTC Fines Goldman $1mn for Three Weeks of Missing Phone Records

28/11/2019

Goldman’s phone recording hardware failed in January 2014 an went undetected for three weeks, thereby impeding an unrelated CFTC investigation.

Enforcement

Korea Progresses Financial Consumer Protection Bill

28/11/2019

The bill, approved by the national policy committee, contains six sales regulations to be applied to all financial products and establishes a legal basis for penalising firms in violation.