Market Infrastructure

Amex Affiliate Wins Approval to Enter China Bank Card Market

12/11/2018

The affiliate, 50 percent owned by Amex subsidiaries, will be able to operate a credit card payment network that will allow Amex-branded cards to be used in China.

Securities / Derivatives

SGX RegCo to Give Minority Shareholders Bigger Say on Delistings

12/11/2018

Parties making the voluntary delisting offer to privatise an issuer will not be allowed to vote on the delisting resolution, as is the case in Hong Kong and Australia.

Fintech / Regtech

MAS, SGX Develop DvP Prototypes for Settlement of Tokenised Assets

12/11/2018

MAS and SGX have developed delivery versus payment capabilities for the settlement of tokenised assets across different blockchain platforms, which they say can help simplify post-trade processes and further shorten settlement cycles in capital markets.

Securities / Derivatives

China Brokers Guard Against Stock-Pledged Loan Defaults – Report

09/11/2018

China’s brokerages are looking to boost capital to guard against further falls in the markets that could threaten the value of loans backed by stock pledges.

AML / KYC

FATF Publishes Third Enhanced Follow-up Report on Australia

09/11/2018

Australia has been re-rated on 7 of the 40 FATF Recommendations, reflecting the country’s progress to strengthen AML/CFT measures since its 2015 mutual evaluation.

Enforcement

China to Station Anti-Graft Officials at State Banks, Insurers

09/11/2018

China is planning to install anti-graft officials at some of the largest state-owned financial institutions in the country, according to an SCMP report.

Securities / Derivatives

S. Korea FSC Chair Proposes Abolishing Securities Transaction Tax

08/11/2018

The KOSPI has fallen nearly 20% from this year’s peak, prompting FSC chairman Choi Jong-ku to propose that lawmakers abolish the securities transaction tax.

Capital / Liquidity

PBOC Seeks Acceleration of TLAC Implementation at China’s G-SIBs

08/11/2018

The central bank said China might implement the TLAC framework earlier than 2025 because the country’s ratio of credit bonds to GDP may exceed the 55% trigger set by the FSB.

Securities / Derivatives

CSRC Addresses Lengthy Stock Suspensions in New Guidance

07/11/2018

China’s listed companies have historically used trading halts to prevent stock price declines during market stress, preventing investors from selling for long periods of time.