Securities / Derivatives

China Raises Reserves Required to Short Yuan in Bid to Stem Losses

06/08/2018

Chinese yuan reached its lowest level since end-May 2017 amid growing economic uncertainty and trade war concerns, prompting the PBOC to defend the currency by making it more costly to bet on weakness.

AML / KYC

RBI Probes KYC/AML Compliance at Payments Banks

06/08/2018

Paytm and Fino Payments Bank have been barred from accepting new clients due to the RBI’s concerns about their adherence to KYC/AML norms.

AML / KYC

S. Korea Announces Revised Tax Bill

06/08/2018

Bill expands crackdown on tax evasion, ends derivatives tax exemptions, disqualifies crypto exchanges as SMEs for tax reductions.

Capital / Liquidity

PBOC Takes Softer Stance on Bank Lending Caps – Report

02/08/2018

Central bank guidance indicates a willingness to be more flexible on lending caps, as economy starts to cool and is threatened by a trade war with the US.

Market Infrastructure

IOSCO Issues Recommendations on Managing Extreme Volatility

02/08/2018

IOSCO believes volatility control mechanisms support the goal of ensuring markets are fair, efficient and transparent, thereby increasing market integrity and investor confidence.

Market Infrastructure

PBOC Announces Licence Application by Foreign Payment Firm

02/08/2018

World First Asia subsidiary Yuefan Business Consulting would become the first foreign-funded third-party payment institution in China if its licence is approved.

Fintech / Regtech

Japan’s Line Corp to Set Up Digital Bank in Taiwan

30/07/2018

‘Line Bank’ will be set up in partnership with up to five local partners to take deposits, provide loans, and sell mutual funds and insurance policies.

Enforcement

S. Korea FSC Imposes Six Month Suspension on Samsung Securities

29/07/2018

A result of April’s dividend payout error, Samsung Securities has been barred from accepting new clients for six months and order to suspend its chief executive, who has instead resigned.

Market Infrastructure

SWIFT Pilots Enhanced Multi-Bank Cross Border Payment Standard

29/07/2018

Pilot participants of SWIFT enhanced gpi standard include 10 multinational corporates and 12 banks; new standard to enable multinational firms to initiate and track gpi payments to and from banks in a single format and integrate payment flows with internal systems.