Structural Regulation

CBIRC Green-Lights Three City Commercial Banks’ WMP Units

05/07/2019

Bank of Hangzhou, Bank of Ningbo and Huishang Bank will form the first batch of city commercial banks to join larger rivals in setting up wealth management subsidiaries.

Trading & Investment

Vietnam Launches Covered Warrants, Govt Bond Futures

04/07/2019

The Ho Chi Minh City Stock Exchange has launched trading in covered warrants; the Hanoi Stock Exchange has launched a new government bond futures contract.

Anti-Bribery & Corruption

Goldman Banker Tim Leissner Banned for Life in Hong Kong

04/07/2019

Leissner’s conduct in relation to the Malaysian state fund 1MDB called into question his fitness and properness to be a licensed person, the SFC said.

Emerging Prudential Risks

RBI to Review Framework for Core Investment Firms

04/07/2019

Concerned that oversight of increasingly complex core investment firms is now inadequate, the RBI has set up a working group to review its framework.

Cybersecurity

Asia Ahead of Other Regions in FinTech: IMF

04/07/2019

Policymakers are facing a balancing act between keeping up with the pace of fintech development and trying to ensure risks are well understood and mitigated.

Liquidity Risk

CBIRC to Tighten Rules on ‘Cash Management Products’

04/07/2019

CMPs are issued by banks, offering higher yields than money market funds and promising a high level of liquidity, but there are no restrictions on how CMP funds can be invested.

Supervision & Enforcement

Hong Kong Hedge Fund Penalised by CFTC, CME

04/07/2019

Elephas Investment Management was found to have violated wheat futures speculative position limits established by the CFTC.

Structural Regulation

ASIC Proposes Licensing Relief for Foreign Funds Managers

04/07/2019

ASIC proposes to exempt foreign fund management providers from the requirement to hold an AFS licence to provide services to professional investors in Australia.

Resolution & Recovery

G-SIBs Making Steady, Significant Progress on TLAC: FSB

04/07/2019

The FSB says further efforts are needed to ensure that TLAC will be available in the right amounts at all locations within a group during a crisis.