Structural Regulation

Australia to Formalise ASIC-APRA Regulatory Cooperation

28/12/2019

The legislation will oblige ASIC and APRA to cooperate, share information with each other, and notify each other if they have a reasonable belief that there has been a breach of the other’s legislation.

Capital Adequacy

HKMA D-SIBs List Unchanged, HLA Requirement Adjusted for Two Banks

28/12/2019

Compared with the December 2018 list, the HLA requirement has increased for Standard Chartered and decreased for Hang Seng Bank.

Market Abuse

SEBI Establishes Insider Trading Whistleblower Protection Office

28/12/2019

The ‘Office of Informant Protection’ is charged with receiving and processing information on insider trading disclosed by whistleblowers, and with protecting their identities.

Emerging Prudential Risks

Korea FSC Sets Out Financial Policies Tasks for 2020

28/12/2019

The FSC will expand funding for innovative companies and key industries, strengthen financial consumer protections, tighten mortgage lending rules, and facilitate debt restructuring.

Structural Regulation

Japan Unveils Final Report on Proposed TSE Reorganisation

28/12/2019

The transition to three market sections is expected to be completed within H1 2022, but the changes will be implemented gradually in phases to mitigate the impact on listed companies.

Anti-Bribery & Corruption

CBIRC Inner Mongolia Official Under Corruption Probe

28/12/2019

The case reportedly relates to the official’s supervision of Baoshang Bank which was taken over by regulators in May due to “serious credit risks”.

Structural Regulation

New Securities Law to Take Effect in China from March 2020

28/12/2019

A fourth and potentially final draft of China’s new Securities Law has been submitted to the NPC Standing Committee’s bimonthly session.

Structural Regulation

RBI Caps Lenders’ Exposures to P2P Platform Borrowers

28/12/2019

The RBI has set a 5mn rupee cap on the aggregate exposure a lender can have to borrowers on P2P lending platforms, and a 1mn rupee cap for lenders with a net worth under 5mn rupees.

Credit Risk

China to Improve Mechanisms for Handling Bond Defaults

28/12/2019

Proposals include mechanisms for early detection and investigation of bond disputes, higher penalties for repayment failures, and lower costs for investors exercising litigation rights.