Enforcement

Taiwan FSC Raises Penalties for Illegal Investment from China

05/06/2019

Chinese investors who buy shares of Taiwan listed companies without authorisation will be fined based on their investment amount. The maximum fine is now TWD 25 million.

Fintech / Regtech

FSC Korea to Launch Open Data Infrastructure to Facilitate Innovation

05/06/2019

A new open data system will start providing anonymised credit information of two million people as sample data in June; and next year a financial data exchange will be launched.

Market Infrastructure

FSB Consults on Measures to Improve G-SIB Resolvability

05/06/2019

Two discussion paper have been issued, one on public disclosures of information on resolution planning and resolvability, the other on winding down large derivatives portfolios.

Securities / Derivatives

SHFE Publishes Eligibility Rules for Futures Trading Participants

05/06/2019

The trading of options and specified futures contracts conducted on the Shanghai Futures Exchange will be subject to the eligibility rules.

Enforcement

UPDATED – RBI Bans EY Member Firm from Auditing Banks

05/06/2019

Reports indicate the RBI had found large discrepancies in bad debt reported by banks for the 2015-2016 period, particularly in the cases of Axis Bank and YES Bank.

Enforcement

MAS Penalises Singapore National in LSE Insider Trading Case

05/06/2019

The penalty was the result of close cooperation and information sharing between MAS and the UK FCA, which had referred the case and provided investigative assistance.

Market Infrastructure

BSE India, ICCL Implement CCP Interoperability Framework

04/06/2019

BSE India and its subsidiary ICCL have gone live with the clearing corporation interoperability framework, despite a one month extension being announced.

Capital / Liquidity

‘Loan Inconsistencies’ Prompt EY Resignation as Chinese Bank Auditor

04/06/2019

The resignation of EY as the auditor of Bank of Jinzhou comes as questions are being raised about the health of China’s small and mid-size lenders.

Capital / Liquidity

RBI Amends Large Exposures Framework for Banks

04/06/2019

The modified framework excludes all entities connected with the sovereign from definition of group of connected counterparties, such as exposures to or guaranteed by government.