Fintech / Regtech

SEBI Directs Mutual Funds to Report on AI, ML Use

10/05/2019

Mutual funds will have to report on their use of AI and ML to facilitate investing, trading, dissemination of investment strategies and advice, compliance, operations and other activities.

Enforcement

Chinese Police Arrest Five More Fuxing Execs on Fraud Charges

10/05/2019

Four deputy presidents and the head of one of Fuxing’s subsidiaries have been detained for illegal fundraising activities, following charges brought against the group’s chairman last July.

Market Infrastructure

Australia Seeks Mandatory Carbon Risk Reporting by 2021

10/05/2019

A green political party in Australia has announced a new policy that will make carbon risk reporting mandatory for banks, insurers, super funds and the largest listed companies in 2021.

Market Infrastructure

Australian Regulators Urge Action on LIBOR Transition

10/05/2019

Firms should be aware of the size and nature of their LIBOR exposures, put in place robust fall-back provisions in LIBOR contracts, and be taking action to transition to alternative rates.

Securities / Derivatives

China Allows Trading in Defaulted Corporate Bonds

09/05/2019

Following steep rises in corporate bond defaults, Chinese authorities have approved the trading of defaulted bonds on two exchange platforms.

ESG / Sustainability

Climate Change a Major Financial Risk, say APRA, ASIC

09/05/2019

“Ultimately there will only be one form of finance, and that will be green finance,” said APRA head of insurance Geoff Summerhayes at the ACSI annual conference.

Securities / Derivatives

Dalian Exchange to Open More Commodities to Foreign Traders

09/05/2019

The Dalian Commodity Exchange plans to open futures contracts in soybean, soybean meal, soybean oil and palm oil to foreign investors this year.

Fintech / Regtech

Japan FSA Seeks AI Expertise to Examine Securities Reports

09/05/2019

The FSA is looking to conduct an experiment to explore the use of AI to read and analyse the data in annual securities reports published by listed companies.

Enforcement

ASEAN Financial Sector Lacks Personal Accountability – Refinitiv Poll

09/05/2019

61% of the survey respondents said there is too little personal accountability in ASEAN’s financial sector, compared to just 16% who believe there is too much.