Market Infrastructure

ASIC Issues Draft Guidance on Product Design Obligations

21/12/2019

From April 2021, design and distribution obligations will require issuers to focus on meeting consumer needs when designing, marketing and distributing financial products.

AML / KYC

SFC, CSRC Set Date for Southbound Investor Identification Regime

20/12/2019

With technical preparations now complete at exchanges and clearinghouses, southbound trading investor identification regime is scheduled for implementation on 13 January.

Market Infrastructure

Indonesia Integrates Nine Bank Reports into Single Mechanism

20/12/2019

The integration aims to minimise redundant and inconsistent information, while simultaneously improving bank operational efficiency and the quality of reported data.

Securities / Derivatives

UPDATED – BOJ to Boost ETF Market Liquidity by Lending Holdings

20/12/2019

The ETF lending facility is likely to reduce ETF bid/ask spreads and provide an easy way to short the Japanese market.

Fintech / Regtech

ACCC Delays Open Banking Launch for More Testing

20/12/2019

Under the new timeline, consumers can direct the major banks to share credit and debit card, deposit and transaction data from July 2020, and mortgage and personal loan data from November 2020.

Enforcement

Westpac Ordered to Pay A$9.15m Penalty for Poor Advice

20/12/2019

In addition to the A$9.15 million penalty, Westpac is required to pay ASIC’s legal costs, and A$12.7 million in compensation to clients that received bad advice from one of the bank’s adviser.

Market Infrastructure

China Raises Daily Remittance Limit for Macau Residents

20/12/2019

The move comes as President Xi Jinping visits Macau this week, amid expectations that further preferential policies will be announced to promote Macau as a financial centre.

Market Infrastructure

Leveraged Loan, CLO Markets Increasingly Vulnerable to Shock: FSB

20/12/2019

The growth in leverage loan and CLO markets has resulted in increased leverage in the financial system, weaker creditor protections, and increased complexity in these markets, the FSB warns.

Press Release

Regulation Asia: Top Ten News Stories for 2019

20/12/2019

This list presents the most-read new stories published by Regulation Asia in 2019, based on aggregated user traffic analytics.