Market Infrastructure

RBI Proposes Overhaul of Bank Executive Compensation Norms

28/02/2019

The proposals include a minimum 50% variable component, a compulsory deferral mechanism, and clawback provisions to ensure compensation reflects performance.

Enforcement

Hong Kong Court Dismisses Short Seller’s Trading Ban Appeal

28/02/2019

The Court dismissed an appeal from short seller Andrew Left to overturn a 2016 ruling banning him from trading in Hong Kong for five years after he published a report containing false information.

Capital / Liquidity

CBIRC Pressures Banks to Boost Lending to Private Firms

28/02/2019

State-owned lenders are instructed to increase loans to private firms by 30% this year, end discriminatory lending practices, and reduce their reliance on loan collateral.

Market Infrastructure

Shanghai’s New Technology Board Attracts Fund Manager Interest

28/02/2019

CSRC says at least 9 fund managers are seeking approval to issue equity investment products on the new board, which could be launched within the first half of this year.

Enforcement

S. Korea to Crack Down on Unfair Trading Practices

28/02/2019

The FSS plans to tighten monitoring of unfair trading practices, namely high-frequency trading, false disclosures and unlawful short-selling. Merrill Lynch, Franklin Templeton under scrutiny.

Enforcement

SFC Suspends China Merchants Securities Exec Over Sponsor Work

28/02/2019

The SFC said Wu Yinong breached the Code of Conduct and the Sponsor Guidelines when he was a sponsor principal in charge of supervising the execution of a 2009 listing application.

Capital / Liquidity

FSB Explores Effects of Regulatory Reform on SME Financing

27/02/2019

The FSB is seeking feedback on observed trends and drivers in SME financing, and whether regulatory reforms such as Basel III have affected financing to SMEs.

AML / KYC

RBI Extends KYC Compliance Deadline for e-Wallet Firms

27/02/2019

Following months of intense lobbying by e-wallet providers, the RBI has extended the deadline for completion of KYC processes by six months.

AML / KYC

FATF Consults on Risk-Based Approach for Professional Services

27/02/2019

The FATF is consulting on draft guidance on the application of a risk-based approach to AML/CFT in the legal, accountancy, and trust and company service providers sectors.