PEPs & Sanctions

US Court Finds Chinese Banks in Contempt in Sanctions Probe

26/06/2019

A US district court has reportedly found three Chinese state-owned banks in contempt for failing to comply with requests for evidence related to a North Korea sanction probe.

Capital Adequacy

Benefits of Stronger Capital Exceed Potential Output Costs

26/06/2019

The FSB and BCBS have issued reports assessing the net economic impact of stronger capital and liquidity reforms and the macroeconomic implications of transitioning to full implementation.

Market Abuse

SFC Orders Freezing of More Assets Linked to Manipulation Case

26/06/2019

The SFC has ordered more brokers to stop dealing with and processing assets linked to suspected market manipulation of Ding Yi Feng shares.

Structural Regulation

APRA Extends Change of Ownership Powers to Super Sector

26/06/2019

From 5 July, any party seeking to acquire more than a 15% stake in a superannuation licensee will be subject to must apply to APRA first for approval.

Anti-Money Laundering

Goldman’s Compensation Offer for 1MDB Losses ‘Not Adequate’

25/06/2019

Prime Minister Mahathir Mohamad says Goldman’s $240mn offer to compensate Malaysia for the bank’s role in the 1MDB scandal is not adequate.

Conduct, Culture & Accountability

RBI Launches Online Platform for Financial Complaints

25/06/2019

The new Complaint Management System allows customers of regulated financial entities in India to lodge complaints against those entities online.

Conduct, Culture & Accountability

New Zealand Banks Commit to Ending Sales-Linked Incentives

25/06/2019

FMA chief executive Rob Everett and RBNZ governor Adrian Orr have confirmed that all banks have committed to removing sales incentives for frontline staff and their managers.

Data Privacy

Regulatory Coordination Needed to Mitigate BigTech Risks: BIS

25/06/2019

An element of risk is BigTechs’ access to data from existing social media, search engines and ecommerce platforms, which raises competition and data privacy issues.

Credit Risk

HKMA Rules on Bank Exposure Limits to Take Effect From 1 July

25/06/2019

Under the rules, authorised institutions are subject to a statutory limit of 25% of capital on financial exposure to any one person or group of related persons.