Structural Regulation

HK SFC, CSRC Agree Investor ID System for Northbound Stock Connect

04/12/2017

SFC says Northbound scheme will be followed by Southbound investor identification, eventually spread to all SEHK investors.

Emerging Prudential Risks

MAS Warns of ‘Medium-term’ Cross-border Financial Stability Risks

04/12/2017

Annual report into stability of financial system says domestic and regional lending improving, no signs of credit market overheating.

Fraud, Scams & Cybercrime

China Minsheng Bank Hit with $4mn Fine for Selling Fake WMPs

04/12/2017

Case of $249mn in fake products first exposed when customer went to branch to redeem WMP which did not actually exist.

Custody & Infrastructure

Malaysia Trialling Blockchain-based Unlisted, OTC Markets

04/12/2017

Distributed ledger trial will form basis of technology architecture, software functions and development standards to underpin markets.

Anti-Money Laundering

Report Sets out Macau AML/CTF Weaknesses

03/12/2017

Asia Pacific Group says authorities have not yet grasped cross-border AML risks, but praises use of intelligence to produce suspicious transaction reports.

Conduct, Culture & Accountability

Australian Securities Regulator Fines VW Financing Arm

30/11/2017

Move hints at increasing global concern that car finance, fuelled by low interest rates, could be source of next sub-prime crisis.

Clearing & Post-Trade

SGX Revamping Securities Settlement Processes

30/11/2017

Exchange consultation proposes move to T+2 settlement, simultaneous securities, money settlement in bid to prevent systemic risk.

Credit Risk

South Korea to Write off $5.7bn in Personal Debt

30/11/2017

People’s Happiness Fund will purchase more than half the debt, remainder will be written off using private sector funds.

Emerging Prudential Risks

China Micro-lenders Ordered to Halt Business

27/11/2017

Murkiest of shadow banking sectors has extended short term credit of more than $150bn; extremely high rates, collection methods have led to ‘social problems’.