PEPs & Sanctions

Korean Banks Halt Won Settlement as Iran Sanctions Waiver Expires

09/05/2019

Woori Bank and Industrial Bank of Korea have stopped offering won settlement services that have to date allowed over 2,000 local companies to bypass Iran trade restrictions.

Trading & Investment

Korea to Ease Rules for Crowdfunding, Fund Management

09/05/2019

The FSC plans to submit the bill easing crowdfunding and fund management regulations to the national legislature later this month, where it will be subject to further deliberation.

Credit Risk

BOT Launches Phase Two of ‘Debt Clinic’ Scheme

09/05/2019

The second phase of the programme is aimed at helping troubled borrowers who owe credit card and personal loan debt to both bank and non-bank lenders.

Clearing & Post-Trade

HKEX, Euroclear to Bring European ETFs to Hong Kong

08/05/2019

HKEX will become the first Asian stock exchange to adopt Euroclear’s international central securities depository ETF settlement model, which allows trades in different markets to be settled in a central location.

Structural Regulation

MAS Considers the Value of Allowing Virtual Banks in Singapore

08/05/2019

The regulator says it is engaging relevant stakeholders to ascertain the unique value that such virtual bank entrants could bring to Singapore’s banking landscape.

Operational Risk

Officials Installed at Chinese Securities Firm to Monitor Risks

08/05/2019

The CSRC has installed officials at a troubled securities firm, N-Securities, over concerns about excessive debt and inadequate risk management.

Clearing & Post-Trade

ASX Opens Testing Environment for CHESS Replacement

08/05/2019

ASX has made available the first of seven ‘drops’ of software code, with additional functionality set to be released at eight-week intervals.

KYC & CDD

Chinese Banks Instructed to Further Limit Foreign Currency Withdrawals

07/05/2019

Chinese banks have reduced the amount of US dollars customers can withdraw and are required to keep a watch list of clients who make frequent foreign currency withdrawals.

Credit Risk

AFMI Issues Guidelines for Funds on Debt Write-Offs, Haircuts

07/05/2019

The Association of Mutual Funds in India has issued new guidelines on how fund managers should write down debt and take haircuts for sub-investment grade securities.