Capital / Liquidity

RBI Props Up NBFCs Through On-Lending Guidance

14/08/2019

Banks are mandated to lend a portion of their funds to priority sectors. Allowing NBFCs to serve as middlemen for such lending provides them a liquidity backstop.

Market Infrastructure

Myanmar to Set Up Alternative Market for Unlisted Companies

14/08/2019

The so-called ‘Myanmar Public Companies Board’ will serve as a stepping stone for domestic companies to list on the YSX, which still lists only 5 companies.

Enforcement

FSS Korea to Probe Major Banks for Mis-sold Financial Products

14/08/2019

Woori, KEB Hana and Shinhan are subject to the FSS investigation for selling high-risk private equity investment products and derivative-linked securities.

Enforcement

CBIRC Fines WeBank $285m for Multiple Lending Violations

14/08/2019

An inspection last year found that some employees at the digital bank used consumer loans to invest in stock and futures trading.

Securities / Derivatives

Korea Eases Criteria for Professional Investor Registration

14/08/2019

The move is expected to increase the pool of professional investors from under 2000 to over 370,000. A new trading venue for unlisted equity securities is also planned.

AML / KYC

Singapore Shell Companies Vulnerable to Money Laundering: MAS

14/08/2019

While money launderers and tax evaders have traditionally used offshore companies, some have shifted to onshore companies to evade detection.

Capital / Liquidity

BSP Issues Guidelines for Banks on Managing IRRBB

14/08/2019

Covered supervised institutions have until 1 January 2021 to develop or revise their policies and procedures in accordance with the guidelines.

Securities / Derivatives

Koscom to Develop New Platform for Trading Unlisted Securities

13/08/2019

The project, approved under the FSC’s sandbox programme, will also involve KEB Hana Bank, Hana Financial Investment and Amicus Lex, among others.

AML / KYC

Malaysia to Introduce e-KYC for Money Services Businesses

13/08/2019

BNM has set out the requirements money changers must observe in non-face-to-face customer onboarding, to ensure effective and robust AML/CFT controls.