Conduct, Culture & Accountability

India Approves Independent Audit Oversight Body

05/03/2018

The new body will have powers to impose penalties or debar chartered accountants or their firms for up to ten years.

Liquidity Risk

China to Cap Money Market Fund Redemptions

04/03/2018

The limit for same-day redemptions will be set at CNY10,000, according to Bloomberg sources.

Trading & Investment

Taiwan Brokers Set to Issue Exchange Traded Notes

03/03/2018

Brokers with capital adequacy exceeding 250 percent and net value over NTD10 billion will be allowed to issue the new debt instruments.

Fraud, Scams & Cybercrime

Recent Fraud Prompts India Trade Finance Freeze

03/03/2018

RBI audit of bank liabilities forces freeze on new letters of credit; foreign lenders reluctant to accept guarantees from Indian banks.

KYC & CDD

Bangladesh Bank to Introduce e-KYC for Account Opening

02/03/2018

Electronic KYC will include digital forms and thumbprint verification; bank can access national identity card database for further verification.

Trading & Investment

India Eases Foreign Investor Limits on Interest Rate Futures

02/03/2018

Aggregate long positions for all FPIs will be up to INR50 billion across any interest rate futures instrument.

Structural Regulation

Australia to Develop Fintech Code of Conduct

02/03/2018

The code of conduct will cover transparency and disclosure for fintech balance sheet lenders offering unsecured business loans.

Structural Regulation

China Levels Playing Field for Foreign Banks

01/03/2018

Pre-approvals no longer required for wealth management, custody services; procedures simplified for branch opening, executive appointments, bond issuance.

Fraud, Scams & Cybercrime

Hong Kong SFC to Focus on Corporate Fraud in 2018

27/02/2018

SFC’s recent newsletter on enforcement priorities details concern on false financial statements, IPO fraud and other sponsor failures.