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.

Fintech / Regtech

S Korea Proposes New Legal Framework for P2P Sector

13/02/2019

South Korea’s booming P2P lending market is in need of new legislation to enhance protections for investors and borrowers, says FSC chairman Choi Jongku.

Market Infrastructure

Implementation of Secondary Market Principles “Generally High” – IOSCO

13/02/2019

IOSCO has identified some gaps in the implementation of its ‘Secondary and Other Market Principles’, particularly in nascent and emerging market jurisdictions.

Enforcement

Sydney Deutsche Bank Trader Convicted for Falsifying Trades

13/02/2019

A former FX options and futures trader has received a 2-year suspended sentence for falsifying entries in Deutsche Bank’s internal records.

Enforcement

UPDATED – Multiple Indian Banks Penalised for Rule Violations

13/02/2019

The latest penalties involve banks’ non-compliance with RBI directions on the monitoring of borrowers’ end use of loan funds, as well as failures related to KYC/AML compliance.