
Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Securities / Derivatives
Licensees Should Avoid Employee Allocations in Equity Raising – ASIC
21/12/2018
Following a review of allocations practices in equity raising transactions, ASIC said allocations to employees should be avoided as they can present conflicts of interest.
Capital / Liquidity
S. Korea to Adopt IRRBB Standards in Mid-2019
21/12/2018
The FSS plans to revise banking supervision bylaws during Q1 2019, with implementation of IRRBB at domestic banks expected in mid-2019.
Market Infrastructure
All SWIFT Banks to Adopt gpi Payments by End-2020
20/12/2018
Over half of SWIFT’s cross border traffic now goes through as gpi payments, with full adoption by its 10,000 member banks expected by end-2020.
Market Infrastructure
HKMA to Require Banks to Report on Culture Reform
20/12/2018
First phase of bank culture self-assessments will cover about 30 institutions, including all major retail banks and selected foreign bank branches.
AML / KYC
Taiwan FSC to Amend Rules on Beneficiary Disclosure
20/12/2018
Insufficient disclosures of corporate clients’ beneficiaries by financial institutions was cited as one of Taiwan’s shortcomings in the APG’s latest report.
Securities / Derivatives
Licensed Corporations Should Carefully Review Internal Controls – SFC
20/12/2018
The SFC has reviewed brokers’ internal control systems and found they are not adequately protecting client assets, supervising their staff or incentivising good compliance culture.
Capital / Liquidity
PBOC Unveils New ‘Targeted’ Liquidity Facility for Banks
20/12/2018
The new ‘targeted medium-term lending facility’ is available to banks that demonstrate support for the real economy by lending to small and private companies.
AML / KYC
MAS Extends Prohibition Against Goldman’s Leissner to Lifetime Ban
20/12/2018
The March 2017 prohibition order barring former banker Tim Leissner for 10 years was based on limited information; US DOJ charges provided evidence of his involvement in 1MDB fund flows.
Capital / Liquidity
APRA Removes Cap on Interest-Only Lending
19/12/2018
Caps on investor and interest-only lending have served their purpose of moderating higher risk lending and improving lending standards, according to APRA chairman Wayne Byres.
Securities / Derivatives
China Exempts Mainland Investors from Tax on Hong Kong Funds
19/12/2018
Chinese regulators have applied a one year income tax exemption for mainland investors buying and selling Hong Kong funds through the mutual recognition of funds scheme.
JOIN OUR NEWSLETTER
A daily selection of top stories from the Regulation Asia editorial team