Market Infrastructure

Citi to Divest Stake in Mainland Securities Joint Venture

10/01/2019

Citi is looking to form its own majority-owned securities joint venture in China following new rules allowing foreign firms to acquire controlling stakes in such partnerships.

Market Infrastructure

BIS Issues Report on Central Bank Digital Currencies

10/01/2019

Only one of 63 central bank respondents has said it is very likely to issue a central bank digital currency in the next six years.

Fintech / Regtech

Japan FSA to Crack Down on Unlicensed Crypto Investment Firms

10/01/2019

Currently, investment firms collecting funds from investors in cryptocurrency do not explicitly fall under Japan’s Financial Instruments and Exchange Act.

AML / KYC

China to Relax Approval Process for Corporate Bank Accounts – Report

10/01/2019

The relaxation of account opening policies will enable companies to open bank accounts in a few days rather than wait months for central bank approval.

Securities / Derivatives

Bursa Malaysia Introduces New Trading Features

09/01/2019

The exchange has introduced market order at pre-closing, on-open orders, on-close orders, iceberg orders and one-cancel-other orders.

Market Infrastructure

China Mulls New Rules to Prevent Conflict of Interest at Ratings Agencies

09/01/2019

The new rules would prohibit firms from providing consulting services to companies they rate and require disclosures of any conflicts of interests.

Capital / Liquidity

New Zealand Banks Called Out for High Priority Amounts on Mortgages

09/01/2019

By setting mortgage priority amounts almost three times the home loan principal, banks are preventing borrowers from shopping around for a second mortgage.

Capital / Liquidity

SFC Fines FWD Life for Noncompliance with Key Personnel Requirements

09/01/2019

FWD Life also failed to maintain satisfactory internal controls and written compliance procedures as required under the SFC Code on MPF Products and the Fund Manager Code of Conduct.

Crypto / Digital Assets

UPDATED – Japan FSA Considers Approving Crypto ETFs

08/01/2019

The FSA is gauging industry interest in crypto ETFs, following its release of a new draft framework for the sector that could become law in 2020.