China Cuts Mortgage Rates for First-time Home Buyers

04/10/2022

Local governments will be allowed to relax interest rate floors for first-home buyers. Tax refunds are available for those selling their home to buy a new one.

Capital / Liquidity

BCBS Finds Japan NSFR Compliant, Largely LEX Compliant

03/10/2022

Japan’s final NSFR rules took effect from 30 September 2021. The rules to implement the LEX framework came into force on 1 April 2020.

Fintech / Regtech

NPCI, TerraPay Partner on Cross-Border Payments

03/10/2022

The partnership will allow Indian customers and merchants in India with an active UPI ID to make and accept cross-border payments globally.

Enforcement

Hong Kong Charges 13 in Suspects Over Ramp-and-Dump Scheme

03/10/2022

The suspects allegedly used different social media platforms to manipulate the trading in the shares of two Hong Kong-listed companies.

South Korea Extends Loan Forbearance Programme for Businesses

03/10/2022

The extension takes effect from 4 October, the same day applications for the New Start Fund open for small merchants and the self-employed.

Enforcement

Australian Court Dismisses ASIC Lawsuit Against CBA

03/10/2022

The Federal Court ruled that ASIC failed to establish that CBA received conflicted remuneration when distributing Colonial First State’s superannuation product.

AML / KYC

FINRA Issues New Penalties Guidance for Rule Violations

03/10/2022

Large firms face penalties with no upper limit if they fail to reasonably monitor for and report suspicious transactions.

Market Infrastructure

Hong Kong to Launch Dual Counter Trading in H1 2023

03/10/2022

A market-maker system will be established to facilitate yuan-denominated stock trading. Stamp duty will be waived for market makers providing liquidity for yuan shares.

Securities / Derivatives

India Allows FPIs to Trade Commodity Derivatives Market

03/10/2022

Since 2018, FPIs been allowed to trade exchange-traded commodity derivatives but only to hedge actual underlying exposures to physical commodities.