Enforcement

Australian Bank Conduct Code to be Compulsory

28/03/2018

Code being considered by ASIC will be binding, with self-regulatory body given power to investigate misdemeanours and issue sanctions.

Enforcement

IPO Sponsors Still Deficient, says SFC

27/03/2018

Thematic review details deficiencies in standards of conduct, due diligence practices and internal systems and controls.

Capital / Liquidity

Vietnam Establishes Early Intervention Mechanism for Ailing Banks

26/03/2018

New mechanism provides guidelines for SBV directors to take action as a credit institution profile weakens to contain risk.

Enforcement

SSE Re-stocks Disciplinary Arsenal

26/03/2018

New documents give Shanghai exchange greater powers over trading members and investors.

Fintech / Regtech

Taiwan Drafts Rules for Internet Only Banks

25/03/2018

FSC may authorise Japan’s Line Corp and Rakuten to operate as full-service banks in Taiwan.

Enforcement

UPDATED – Indian Banks Fall Victim to $342mn in Loan Frauds

23/03/2018

Jewellery chain falsified financial records to obtain 8.24 billion rupees in loans from 14 banks over 10 years; infrastructure firm defrauds 9-bank consortium of 13.94 billion rupees.

Enforcement

SFC Fines UBS Securities for Missing Client Consent Records

23/03/2018

The firm was only able to provide the regulator about half of the client consents for facilitation trades.

Enforcement

HK Risks Becoming Auditing Outcast – Report

22/03/2018

Head of Financial Reporting Council says overhaul of accountancy regulation will not meet international standards.

Market Infrastructure

HK, India Sign Tax Pact

22/03/2018

Hong Kong investors will pay half the normal withholding tax rate on the interest earned on their investments in India.