Capital / Liquidity

APRA Finalises Rule Revisions on Related Entity Exposures

21/08/2019

The revisions may make it more difficult for banking groups to fund offshore business, and force them to restructure or reconsider the relative value of certain group operations.

Enforcement

HK Court Orders Confiscation of HK$1.46m from Former UBS Exec

21/08/2019

The case relates to the 2017 conviction of a former UBS associate director for accepting over HK$1.4mn in bribes from a Shenzhen-based client.

Capital / Liquidity

Cross-holdings Among Chinese FIs Raise Systemic Risk: S&P

21/08/2019

A new report from S&P says insurers’ high exposure to banks and cross-holdings between banks could heighten systemic risk.

Enforcement

ASIC to Initiate Legal Proceedings Against Banks Within “Weeks”

20/08/2019

In addition to the 13 referrals from the royal commission, ASIC has been investigating “three times as many” case studies with a view to initiating legal proceedings in the new few weeks.

Securities / Derivatives

PBOC Approves Development of ‘Standardised Notes’

20/08/2019

Standardised notes are tradable beneficiary certificates backed by a pool of commercial paper or bankers’ acceptances with similar maturities.

Enforcement

Unauthorised New Zealand Adviser Faces Lengthy Jail Term

20/08/2019

A New Zealand court has reportedly convicted an unauthorised financial adviser of 38 charges relating to a long-running fraud which funded a lavish lifestyle of private jets and jewellery.

Capital / Liquidity

CBIRC Urges Acceptance of IP Pledges as Loan Collateral

20/08/2019

Financial institutions are encouraged to “actively carry out intellectual property pledge financing business” to provide greater support to innovative enterprises in their development.

Enforcement

SFC, ICAC Formalise Cooperation Arrangement with MoU

20/08/2019

The MoU covers case referrals, joint investigations, the exchange and use of information, mutual provision of investigative assistance, and capacity building.

Market Infrastructure

Australia Accelerates Post Royal Commission Reform

20/08/2019

Under the government’s implementation roadmap, close to 90% of its remaining commitments will be implemented by mid-2020, and legislation for the rest will be introduced by end-2020.