Enforcement

SFC Warns Against Misconduct Involving Acquisitions, Disposals

06/07/2019

Directors of listed companies have a duty to exercise due and reasonable care, skill and diligence when evaluating or approving the acquisition or disposal of a company or business.

Enforcement

Former Barclays Singapore Director Gets 13-Year Jail Term

05/07/2019

The former private banker forged signatures and documents to siphon off $10mn from client bank accounts between 2010 and 2013.

Fintech / Regtech

Australia: Consumer Data Right Legislation Could Delay Open Banking

05/07/2019

The Consumer Data Right Bill is needed for banks to be able to transfer their customers’ personal data to another institution, a cornerstone of the open banking initiative.

Capital / Liquidity

Australia, India Compliant with NSFR, Large Exposures Framework

05/07/2019

The BCBS has assessed the implementation of the NSFR and large exposures framework in Australia and India to be ‘compliant’ with its standards.

Market Infrastructure

CBIRC Green-Lights Three City Commercial Banks’ WMP Units

05/07/2019

Bank of Hangzhou, Bank of Ningbo and Huishang Bank will form the first batch of city commercial banks to join larger rivals in setting up wealth management subsidiaries.

Securities / Derivatives

Vietnam Launches Covered Warrants, Govt Bond Futures

04/07/2019

The Ho Chi Minh City Stock Exchange has launched trading in covered warrants; the Hanoi Stock Exchange has launched a new government bond futures contract.

Enforcement

Goldman Banker Tim Leissner Banned for Life in Hong Kong

04/07/2019

Leissner’s conduct in relation to the Malaysian state fund 1MDB called into question his fitness and properness to be a licensed person, the SFC said.

Market Infrastructure

RBI to Review Framework for Core Investment Firms

04/07/2019

Concerned that oversight of increasingly complex core investment firms is now inadequate, the RBI has set up a working group to review its framework.

Fintech / Regtech

Asia Ahead of Other Regions in FinTech: IMF

04/07/2019

Policymakers are facing a balancing act between keeping up with the pace of fintech development and trying to ensure risks are well understood and mitigated.