Securities / Derivatives

China Allows Banks to Trade Bonds Via Stock Exchanges

08/08/2019

Currently, Chinese banks mostly trade bonds only in the interbank market. The move will increase their allowed scope for bond investments and improve the real economy’s access to financing.

Enforcement

CSRC Imposes $56mn Penalty on Individual for Insider Trading

08/08/2019

The individual learned of a gaming company’s acquisition plans months in advance and used 14 stock accounts set up by acquaintances to profit from the information.

Enforcement

ASIC Proposes Regulatory Guide on Whistleblower Policies

08/08/2019

Companies have to implement a whistleblower policy by January 2020. ASIC’s guidance explains how they should be established, implemented and maintained.

Fintech / Regtech

MAS Launches Faster Option Sandbox Testing

08/08/2019

Sandbox Express entails an approval process of just 21 days before firms can start testing innovative financial products and services in a pre-determined environment.

Market Infrastructure

ASX Finalises Updated Guidance for Clearing, Settlement Participants

08/08/2019

ASX has finalised its updated guidance for clearing and settlement participants on their business continuity, disaster recovery and cyber resilience arrangements.

Market Infrastructure

Singapore Finalises Tax Framework for VCCs

07/08/2019

An umbrella VCC needs to file a single corporate income tax return, regardless of the number of sub-funds. GST and stamp duty will be applied at the sub-fund level.

Market Infrastructure

MAS Mandates Baseline Requirements on Cyber Hygiene

07/08/2019

The legally binding cyber hygiene requirements must be implemented by all MAS regulated financial institutions by 6 August 2020.

Enforcement

Westpac NZ Refunds 93,000 Customers for Incorrectly Charged Fees

07/08/2019

Westpac self-reported the incorrectly charged fees in December 2017, and has already completed a significant part of the work to reach and refund impacted customers.

Market Infrastructure

SGX-NSE GIFT City Trading Link Receives Regulatory Approval

07/08/2019

The so-called ‘NSE IFSC-SGX Connect’ is set to become operational by end-2020, ending a dispute between the two exchanges.