Securities / Derivatives

HKEX to Expand Closing Auction Session to All Equities, Funds

08/07/2019

The expansion will help improve trading liquidity at close, simplifying operations of market participants, and standardise closing times for equities.

Capital / Liquidity

APRA Relaxes Serviceability Assessment Standards for Mortgage Loans

08/07/2019

Under APRA’s new serviceability guidance, borrowers on a typical 4% mortgage rate can expect to be assessed at 6.25% rather than 7.25%, enabling them to immediately secure larger loans.

Securities / Derivatives

China to Resume Approvals for Domestically Funded Securities Firms

07/07/2019

All newly approved brokerages since 2008 have been joint ventures between domestic and foreign investors. But market access should also be broadened to domestic investors, the CSRC says.

Market Infrastructure

China to Trial Discretionary Control for Investment Advisers

06/07/2019

Participating companies will be allowed to take full discretionary control of their clients’ investments, and charge fees based on AUM and performance.

Fintech / Regtech

Malaysia to Finalise Regulatory Framework for ICOs by Year-End

06/07/2019

A framework for ICOs, originally expected by the end of Q1, is now under review by relevant stakeholders, according to deputy finance minister Datuk Amiruddin Hamzah.

Market Infrastructure

JPMorgan, Morgan Stanley to Take Control of China JVs

06/07/2019

JPMorgan is likely to become the first foreign firm to gain a controlling stake in an asset management joint venture in China, while Morgan Stanley may soon control its China securities unit.

Enforcement

SFC Warns Against Misconduct Involving Acquisitions, Disposals

06/07/2019

Directors of listed companies have a duty to exercise due and reasonable care, skill and diligence when evaluating or approving the acquisition or disposal of a company or business.

Enforcement

Former Barclays Singapore Director Gets 13-Year Jail Term

05/07/2019

The former private banker forged signatures and documents to siphon off $10mn from client bank accounts between 2010 and 2013.

Fintech / Regtech

Australia: Consumer Data Right Legislation Could Delay Open Banking

05/07/2019

The Consumer Data Right Bill is needed for banks to be able to transfer their customers’ personal data to another institution, a cornerstone of the open banking initiative.