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Capital / Liquidity
PBOC Consults Internally on Draft Rules for Financial Conglomerates – Report
11/12/2018
New rules for financial holding companies could include requirements on capital adequacy, caps on non-financial assets, and segregation of business units.
Market Infrastructure
SEBI Issues Cybersecurity Framework for Market Infrastructures
11/12/2018
Stock exchanges, clearing corporations and depositories have six months to put in place appropriate systems and processes for implementation of the new guidelines.
Securities / Derivatives
Bursa Malaysia Enhances ETF Framework, Effective in January
10/12/2018
“The introduction of innovative ETF products is a welcome development for our ETF market, and should lead to a more vibrant ETF ecosystem,” said Bursa Malaysia chief Tajuddin.
Enforcement
IT Consultant of Singapore Investment Bank Charged with Insider Trading
10/12/2018
The US SEC has filed charges against an outsourced IT contractor for trading on inside information while working at the Singapore branch of an investment bank.
Market Infrastructure
China to Include Dual Class Shares in Southbound Stock Connect Trading
10/12/2018
Chinese stock exchanges will work with HKEX to formulate rules enabling mainland investors’ access to Hong Kong-listed dual class shares by mid-2019, after banning them in July.
Enforcement
China Banking Regulator Fines Six Banks a Combined $22mn
10/12/2018
The CBIRC has fined six banks a combined 156.3 million yuan for breaching rules on wealth management products, lending, and misleading advertising.
Fintech / Regtech
HKMA to Grant Virtual Banking Licences in Q1 2019
10/12/2018
The HKMA has provided an update on the processing of virtual banking applications, saying it will shortlist one-third of remaining applicants with an aim to granting licences in Q1 2019.
Big Picture
APAC Banks Have Sufficient Buffers to Counter 2019 Risks – Moody’s
07/12/2018
Banks will face challenging conditions in 2019 due to moderating economic growth, slowing credit expansion and US-China trade tensions, but have adequate buffers against growing risks.
Enforcement
Korean Regulators Become Latest Signatories to IOSCO EMMoU
07/12/2018
South Korea’s FSC and FSS have jointly become the 10th member of IOSCO’s EMMoU, which enables cross-border sharing of audit papers and telecommunications and internet records.
AML / KYC
Malaysia Clarifies Regulatory Treatment of Cryptocurrencies
07/12/2018
ICO issuers and digital asset exchanges will be regulated by the Securities Commission and subject to AML/CTF guidelines, as well as BNM laws and regulations relating to payments.
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