Securities / Derivatives

China Launches Nationwide Investigation into Enterprise Bonds

15/02/2019

Following a record number of defaults in 2018, China’s state planning agency is launching an investigation into bonds issued by state owned-enterprises.

Securities / Derivatives

CSRC Seeks to Control Speculation on Shanghai’s New Tech Board

15/02/2019

Amid concerns of volatility when the new board launches, Chinese regulators reportedly convened a meeting with industry participants seeking views on measures to control market hype.

ASIC Consults on Updates to Responsible Lending Guidance

14/02/2019

ASIC’s existing guidance allows a tailored approach to applying responsible lending obligations, but licensees may be applying them where the law does not require it.

Enforcement

US SEC Charges Deloitte Japan for Auditor Independence Violations

14/02/2019

Deloitte Japan agreed to pay $2mn to settle charges related to audit reports it issued while dozens of its employees maintained financial relationships with the audit client.

China Eases Rules for Expat Stock Incentive Programmes

14/02/2019

New rules from SAFE will allow foreign employees of China-listed companies to invest domestically using funds remitted into the country from overseas.

Fintech / Regtech

Taiwan FSC Sets Up Panel to Review Internet-only Bank Applications

14/02/2019

The new panel will assess formal applications for internet-only bank licences. Chunghwa Telecom, Waterland Financial and Line Financial are each seeking licences.

AML / KYC

PBOC to Scrap Approval Process for Corporate Bank Account Opening

13/02/2019

The requirement to obtain PBOC approval for opening a corporate bank account will be scrapped nationwide by year-end, starting from 25 February.

Securities / Derivatives

Tokyo Exchange Mulls Higher Requirements for Top Market Tier

13/02/2019

New standards will be introduced for how companies are included in the First Section, the TSE’s top tier for listed companies, as the exchange seeks to boost market appeal.

MAS to Promote Good Governance Through New Committee

13/02/2019

MAS has announced the formation of a new industry-led advisory committee, the CGAC, which will identify corporate governance risks and work to improve Singapore’s CG Code.