Data Privacy

S. Korea Passes Bills Enabling Commercialisation of Data

13/01/2020

The bills allow the commercial use of unidentified individuals without seeking their consent. A new data exchange will be launched in March.

Supervision & Enforcement

CSRC Issues Warning Letter to GF Securities for Poor Compliance

13/01/2020

An investigation into the firm found fewer-than-required experienced compliance officers, and a lack of independence of its compliance function from other departments.

CBDCs

Demand for Stablecoin, CBDC Not Yet Established: RBA

13/01/2020

A retail CBDC could ultimately hurt commercial banks, as it would translate to a fall in deposits and a reduction in the availability of funds for lending to households and businesses, the RBA says.

Structural Regulation

SGX Enhances Listing Due Diligence Standards for Issue Managers

13/01/2020

The ABS listings due diligence guidelines and independence requirements have been incorporated into SGX’s mainboard listing rules.

Resolution & Recovery

Sri Lanka to Enact New Banking Act in 2021

10/01/2020

The new Banking Act will streamline the licensing process, branch approvals, and adopt a proportionality framework for banking regulations, among other changes.

Capital Adequacy

12 Banks Fail to Meet Bangladesh Capital Requirement

10/01/2020

The total capital shortfall among the 12 banks was reported to be over $2bn as of the end of September, amid rising bad loans in the banking sector.

Structural Regulation

Philippine SEC Issues New Corporate Governance Code

10/01/2020

The new code comes into effect on 12 January, and gives public companies and registered issuers 6 months to submit a new manual on corporate governance.

Emerging Prudential Risks

PBOC Sets Out Policy Priorities for Year Ahead

10/01/2020

The PBOC has announced key policies and tasks for 2020, following an annual work conference held last week in Beijing.

Emerging Prudential Risks

CBIRC Proposes New Rules to Cleanse Financial Leasing Sector

10/01/2020

Of over 10,000 financial leasing companies in China at the end of June, more than 70% have either halted, are shell companies, or are mired in crisis.