AML / KYC

Five RCBC Bank Employees Charged with Money Laundering

25/05/2019

Five current and former bank employees have been charged with money laundering in the Philippines in connection with the 2016 Bangladesh Bank heist.

Capital / Liquidity

BSP Cuts RRR for Thrift, Rural, Cooperative Banks

25/05/2019

The move follows RRR cuts for large banks, as the BSP looks to mitigate lowering price expectations and inflation.

Market Infrastructure

Myanmar Allows Foreign Banks to Set Up Local Subsidiaries

25/05/2019

Foreign banks will be able to enter the retail banking space and operate as local banks by setting up subsidiaries, rather than just branches.

Securities / Derivatives

India INX Allows Direct Trading on LME, ICE, Eurex, Euronext

24/05/2019

The first trade on the LME from India INX took place on 21 May, in copper.

Enforcement

CICC Bankers Reprimanded for Altering IPO Documents

24/05/2019

Two CICC bankers have been named and shamed for altering the IPO application documents of a company seeking a listing on Shanghai’s new tech board.

ESG / Sustainability

HKEX Consults on ESG Reporting Framework

24/05/2019

HKEX is reviewing its ESG reporting framework to ensure it remains fit for purpose and is up to date with investor and stakeholder expectations and international best practice.

Securities / Derivatives

China to Open Bond Futures Market to Domestic Banks

24/05/2019

Opening up bond futures trading to banks will improve volumes, liquidity, hedging tools, and price discovery across the broader bond market.

Enforcement

Japan FSA to Issue Improvement Order Against Nomura

24/05/2019

The FSA will reportedly order Nomura Securities to strengthen controls and systems to prevent recurrence of a recent information leak.

Capital / Liquidity

Singapore Banks Still Analysing Data Gaps for MAS 610

24/05/2019

A Wolters Kluwer survey has revealed that 76% of Singapore banks are in the ‘data gap analysis’ stage in their preparation for MAS 610/1003.