Capital / Liquidity

UPDATED – RBI Allows Lenders One-Time Restructuring of MSME Loans

01/01/2019

Banks and NBFCs will be allowed to restructure defaulted loans not yet classified as NPAs, provided the borrower has aggregate exposures less than $3.6mn.

Market Infrastructure

S. Korea Designates 11 Banks as Won-Yuan Liquidity Providers

01/01/2019

The banks selected by South Korea’s central bank include 6 domestic institutions and 5 foreign institutions with local branches.

Securities / Derivatives

Chinese Bourses Limit Stock Suspensions to 10 Trading Days

01/01/2019

The 10 day limit for stock suspensions compares to three months allowed previously for major asset restructurings, and up to five or six months in other cases.

Fintech / Regtech

Philippines SEC Extends Consultation on ICO Rules

31/12/2018

The second round of public consultation is open until 15 January, after stakeholders asked for more time to study the draft rules.

Fintech / Regtech

BNM Issues Policy Document Targeting Outsourcing Risk at FIs

31/12/2018

Malaysia’s central bank has raised expectations on the board and senior management to ensure effective oversight and governance of outsourcing arrangements.

Capital / Liquidity

RBI ‘Expert Committee’ to Determine Best Use of Central Bank Reserves

30/12/2018

The committee is tasked with suggesting an adequate level of reserves for the central bank and proposing a policy for distributing dividends to the government.

AML / KYC

JPMorgan Hong Kong Fined for Inadequate AML/CTF Controls

30/12/2018

An HKMA investigation found that JPMorgan Hong Kong failed to establish and maintain effective controls for handling wire transfers, conducting CDD and monitoring business relationships.

Enforcement

Hong Kong Asset Manager Fined for Wash Trading

28/12/2018

The asset management firm was both the buyer and seller in a transaction between two of its brokers, which the SFC deemed was a wash trade.

Enforcement

S. Korea’s Largest Crypto Exchange Accused of Inflating Volumes, Prices

27/12/2018

South Korea’s Upbit is alleged to have used bots to manipulate trading volumes and prices to attract investors to the exchange. Two officers and an employee have been indicted.