Enforcement

Enforcement Actions Will Be Publicised, APRA Clarifies

04/09/2019

Publicising enforcement actions gives the community confidence that financial institutions are being held to account when they do the wrong thing, said APRA deputy chair John Lonsdale.

Securities / Derivatives

China Allows Unlisted Companies to Issue Convertible Bonds

03/09/2019

Allowing non-listed enterprises to issue non-public convertible bonds will broaden their funding channels and lower financing costs.

Securities / Derivatives

Brokers Under CSRC Scrutiny for Stock Pledge Business

03/09/2019

Securities companies are asked to carefully check and rectify any non-compliant stock pledge business and strengthen risk management and controls.

AML / KYC

RBI Grants Another Extension for e-Wallet KYC Compliance

03/09/2019

This is the fourth time the deadline has been extended. Wallet companies were first asked to complete KYC processes for each customer by December 2017.

Market Infrastructure

Philippines Signs Islamic Banking Framework into Law

03/09/2019

The law grants Islamic banks powers to carry out the business of a bank in accordance with Sharia principles, in addition to the general powers granted to corporations.

Capital / Liquidity

India to Merge 10 State Owned Banks into Four

03/09/2019

“In place of fragmented lending capacity with 27 public sector banks in 2017, now there will be only 12 state-run banks post consolidation,” said India’s finance minister Nirmala Sitharaman.

Market Infrastructure

ACCC Calls for Lower Fees, More Competition in FX Services

03/09/2019

An ACCC inquiry found that consumers continue to rely on the big four banks for FX services despite the availability of much cheaper alternatives.

Securities / Derivatives

Bursa Malaysia Consults on Listing Rule Amendments

03/09/2019

The amendments focus on the issuance of new securities, seeking to enhance transparency, promote better corporate governance, ensure board integrity and protect investors.

Capital / Liquidity

CBIRC Identifies Numerous Violations at Small and Mid-sized Banks

03/09/2019

“In response … all relevant regulatory agencies should take targeted prudential supervision measures … and carry out administrative punishment according to law,” the CBIRC said.