ESG / Sustainability

Japan TCFD Consortium Set for 27 May Inauguration

22/05/2019

The Consortium will serve as a platform to pursue climate-related financial disclosures and decide how the disclosed information will be used in investment decisions.

Enforcement

Former DBS Hong Kong Sales Rep Jailed for Loan Fraud

22/05/2019

A former sales representative of DBS Bank in Hong Kong was last week sentenced to 14 months’ imprisonment for defrauding the bank of loans and commissions.

Market Infrastructure

MAS Proposes Consolidated Regulation, Licensing for Merchant Banks

22/05/2019

MAS is consulting on proposals to consolidate regulation of merchant banks under the Banking Act, and to move them to a licensing regime.

Fintech / Regtech

SEBI Publishes Capital Markets Sandbox Framework

22/05/2019

SEBI’s sandbox framework for capital markets innovation comes just weeks after the RBI released its own sandbox framework for banking and payment services.

Capital / Liquidity

APRA Proposes Loosening of Mortgage Rules

22/05/2019

APRA proposes to give ADIs more flexibility in the way they assess mortgage loan serviceability, while also increasing the maximum borrowing capacity for a given borrower.

Capital / Liquidity

RBNZ Closes Bank Capital Consultation, NZBA Calls for Rethink

22/05/2019

The RBNZ’s capital proposals have been under fire since December. The NZBA is the latest to call for a rethink of the capital rules, citing economic costs estimated over NZ$1.8bn a year.

Securities / Derivatives

China to Pilot Cross-Market Bond Index Funds

22/05/2019

The CSRC and PBOC are planning to launch pilot bond index mutual funds that can be traded either on stock exchanges or the interbank market.

ASIC Warning Prompts FX Brokers to Halt Overseas Services

21/05/2019

Two Australian FX brokers announced they will stop servicing overseas customers, after ASIC warned they may be breaking the law in other jurisdictions.

AML / KYC

Bangladesh FIs Report Suspicious Activity at Record Levels

21/05/2019

The increase in suspicious activity reported is an indication of the financial industry’s commitment to fighting money laundering and terrorism financing.