Structural Regulation

SEBI Eases Requirements for FPI Registration

23/08/2019

SEBI has consolidated 57 circulars and 183 FAQs issued over the years into a single circular for FPIs, easing several requirements in the process.

Conduct, Culture & Accountability

ANZ New Zealand to Review Internal Financial Reporting Processes

23/08/2019

The FMA has determined that ANZ should have disclosed the sale of a luxury property to its ex-CEO’s wife at below-market prices as a related party transaction.

Trading & Investment

ASIC Proposes Ban on Binary Options, Restrictions on CFDs

23/08/2019

In 2018, licensed binary options and CFD issuers made about $2bn from these products, largely attributed to retail client losses, fees and costs.

Credit Risk

SEBI to Force Borrowers to Disclose Defaults to CRAs

23/08/2019

The move follows a spate of defaults in India where credit rating agencies were blamed for being unable to flag potential credit risks.

Market Abuse

SEBI Targets Insider Trading with Informant Reward Mechanism

22/08/2019

Whistleblowers will be eligible for rewards up to $139,000 and, if culpable themselves, for amnesty or settlement with SEBI.

Structural Regulation

SZSE ChiNext Board to Adopt Registration Based IPO System

22/08/2019

Shenzhen’s ChiNext board has begun work to prepare for adoption of a registration-based IPO system, currently in use at Shanghai’s new tech board.

Conduct, Culture & Accountability

ASIC to Monitor Progress to End Conflicted Remuneration

22/08/2019

ASIC will investigate the steps licensed entities are taking to end grandfathered conflicted remuneration for financial advisers and whether the benefits are passed on to clients.

Credit Risk

Singapore Large Exposures Rules to Take Effect in Oct 2020

22/08/2019

MAS published a draft large exposures framework in early 2018, trying to meet the BCBS timeline for adoption in January 2019. The final rules will now take effect in October next year.

Anti-Money Laundering

Australia Introduces Bill to Criminalise Cash Payments Over A$10,000

22/08/2019

Under the proposed law, Australians would face up to two years’ jail and A$25,200 in fines if cash transactions between business and individuals exceed A$10,000.