Enforcement

ASIC, APRA Granted New Intervention Powers

05/04/2019

ASIC can intervene where financial and credit products put consumers at risk; APRA can intervene to prevent harm to superannuation members.

Capital / Liquidity

RBI to Draw Up New Guidance on Bad Debt Resolution

05/04/2019

The central bank will have to issue a revised circular for banks on bad debt resolution after a February 2018 circular was invalidated by the Supreme Court this week.

Securities / Derivatives

S. Korean May Allow Fintechs to Enter Brokerage Business

05/04/2019

The biggest barrier to entry for fintech firms will be the capital regulations imposed on existing brokerage firms.

Market Infrastructure

Japan FSA Issues Proposal to Tighten Regional Bank Oversight

04/04/2019

The FSA will stress tests regional banks and force weaker lenders to take action to improve profitability, replace their management, or merge.

Market Infrastructure

Fullerton Wins Approval to Offer Investment Advisory in China

04/04/2019

Fullerton has become the first foreign fund manager to receive approval for its WFOE to conduct onshore investment advisory business in China.

Securities / Derivatives

China to Open Stock Index Futures to Foreign Investors

04/04/2019

Overseas investors may get access to mainland stock index futures under the QFII and RQFII programmes. No details revealed about quota arrangements.

Capital / Liquidity

Malaysia Issues Draft Policy Framework for D-SIBs

04/04/2019

The draft policy framework sets out a proposed assessment methodology to identify D-SIBs in Malaysia and the applicable HLA and reporting requirements.

Capital / Liquidity

RBI Large Exposures Framework Takes Effect

04/04/2019

The RBI has issued a notice on its large exposures framework, which is now in effect, clarifying that non-cleared derivatives will be considered outside its remit for another year.

Enforcement

Australia Budget Delivers Additional Funding for APRA, ASIC

04/04/2019

APRA and ASIC will get more than A$550mn in funding to enhance their effectiveness in addressing financial sector misconduct.