Enforcement

China Freezes $1.5bn in Assets, Arrests 62 in P2P Purge

20/02/2019

Since last June, a crackdown on peer-to-peer lenders by China’s Ministry of Public Security, codenamed ‘Fox Hunt’, has yielded $1.5bn in seized assets and 62 arrests.

Bangladesh Bank Approval of Three New Banks Draws Criticism

20/02/2019

Bangladesh’s decision to approve three new banks has drawn criticism, given the rising nonperforming loans and declining governance standards in the banking sector.

Enforcement

ASIC Issues Update on Implementation of Hayne Recommendations

20/02/2019

ASIC is considering over 40 enforcement cases, a number of which involve misconduct by large financial institutions, their employees or subsidiary companies.

RBI to Pay $3.9bn Interim Dividend to Government

19/02/2019

India’s central bank will pay a $3.9bn interim dividend to the government amid pressures to transfer its surplus reserves.

Securities / Derivatives

UPDATED – Taiwan Mulls Introduction of Intraday Odd-lot Trading

19/02/2019

Currently, odd-lot trades are only permitted in after-hours trading. The introduction of intraday odd-lot trading will boost daily turnover and give retail investors more choice, the FSC says.

Market Infrastructure

CBIRC Drafts New Rules for Local Government AMCs – Report

19/02/2019

Many local government-run AMCs have not been focused on dealing with bad loans as intended due to a lack of clarity on their business scope.

Market Infrastructure

SWIFT Publishes Counterparty Cybersecurity Risk Guide

19/02/2019

The guide assists organisations in incorporating their counterparties’ cybersecurity self-attestation data into their risk management frameworks and governance models.

AML / KYC

SFC Fines Guosen Securities $1.94mn for AML Breaches

19/02/2019

The Hong Kong unit of Guosen Securities failed to make enquiries into or report thousands of suspicious third party deposits.

Market Infrastructure

RBI Consults on New Requirements for Benchmark Administrators

18/02/2019

The draft directions under consultation include requirements related to administrators’ minimum net worth, governance arrangements, and organisational structure, among other requirements.