Sustainable Finance

Indonesia’s Regulator Urges Banks to Lend to Environment-Friendly Firms

28/05/2014

All financial service institutions supervised under the Financial Services Authority are urged to give out loans to companies that comply with environment-friendly practices.

Structural Regulation

China to Revitalize SMEs Amid Economic Slowdown

28/05/2014

China plans to revitalize the country’s small and medium-sized enterprises (SMEs) through tax cuts, access to loans other financial incentives in a bid to boost overall economic growth.

Trading & Investment

India’s SEBI Probing Mutual Fund Houses for Regulatory Breach

27/05/2014

Market regulator Securities and Exchange Board of India has found large-scale violations in several schemes of select mutual fund houses where norms regarding minimum 20 investors and maximum 25% single investor exposure have been breached repeatedly.

Payments & Settlements

Malaysia, S. Korea Launch Currency Swap Facility

27/05/2014

Bank Negara of Malaysia and the Bank of Korea have launched a currency swap facility worth up to RM5 billion, or five trillion won, to facilitate trade settlements between companies in Malaysia and South Korea.

Supervision & Enforcement

Financial Regulators’ Expenditures Rise as Market Surveillance Deepens

27/05/2014

Financial services regulators in major markets including Hong Kong have increased their expenditure over the last seven years by nearly 60% amid growing pressure on regulatory agencies to deepen scrutiny of the financial services industry following the 2008 crisis.

Market Abuse

Australian Regulator Issues Report on Confidential Information, Warns of Complacency

27/05/2014

Australia’s disclosure regime ensures retail investors can trust the integrity of the market, the Australian Securities and Investments Commission (ASIC) said, although it warned companies not to become complacent.

Market Abuse

Hong Kong Exchanges Vows to Fight Class Action Lawsuit on Zinc

27/05/2014

Hong Kong Exchanges and Clearing said it will “vigorously” contest a class action alleging it engaged in anti-competitive behaviour that distorted the price of zinc.

Structural Regulation

Hong Kong Court Orders EY to Submit Accounting Records to SFC

26/05/2014

A Hong Kong court has ordered accounting firm Ernst & Young (EY) to produce accounting records relating to its work for Standard Water Ltd, rejecting the firm’s argument that the mainland’s state secrets law prevents it from handing over information to the city’s securities regulator.

Payments & Settlements

Hong Kong, Australia Seek to Boost RMB Trade

23/05/2014

A group of senior representatives from Hong Kong and Australian banks met to review developments in the Renminbi (RMB) business and consider ways to strengthen RMB products and services, with a view to facilitating greater participation of corporates and other customers in the RMB market.