Capital Adequacy

Indonesian Banks Receive Moody’s Upgrades

18/04/2018

Last week’s sovereign rating upgrade reflects the Indonesian government’s capacity to provide support in times of stress, particularly for systemically important institutions.

Trading & Investment

India Raises FPI Investment Limits for Govt, Corporate Debt

17/04/2018

Investment limits raised almost 10% effective 12 April, with additional increases set for October.

Trading & Investment

SFC Reprimands, Fines Nomura’s Instinet $2.2mn

16/04/2018

The firm failed to put in place reasonable controls to ensure non-proprietary orders received execution priority, prevent erroneous and disorderly orders being sent to the market.

Structural Regulation

Australia to Review Lack of Competition in Banking Sector

16/04/2018

The ACCC will examine a potential oligopolistic structure in Australia’s banking sector and review competitive practices that have allegedly led to higher barriers to entry for newcomers.

Supervision & Enforcement

CBA, ANZ to Pay Compensation for Missing Financial Advice Records

16/04/2018

CBA and ANZ to pay $69mn and $36.4mn compensation, respectively, for failing to provide documentation of annual customer reviews.

Trading & Investment

China to Revive QDII Scheme for Outbound Investment

15/04/2018

SAFE has invited financial institutions to seek new quotas under the scheme; institutions’ total QDII quota to be capped at 8 percent of fund assets, will not be allowed to apply for fresh quotas if under 70 percent of existing allocations are used up.

Payments & Settlements

HKMA, HKEX Adopt New Messaging Standard

13/04/2018

Monetary authority and stock exchange to use messaging system across cross-border payments and remittances, support ‘open banking’.

Credit Risk

Sri Lanka Makes Credit Ratings Compulsory for Finance Companies

13/04/2018

Licensed finance companies are required to enter into agreement with reputed credit agencies to obtain ratings by 30 April.

Fraud, Scams & Cybercrime

Taiwan Regulator Censures 54 Managers at State Owned Banks

12/04/2018

Taiwan FSC censured and demoted 54 managers at seven state banks for their involvement in a $679mn syndicated loan-fraud scandal.