Capital / Liquidity

BOK Offers More Measures to Stabilise Korean Markets

28/10/2022

BOK eased its collateral policies and opened a new repo facility. The FSC adjusted the loan-to-deposit ratio. KSFC and KDB are providing liquidity to securities firms.

Enforcement

Australia Increases Penalties for Anti-Competitive Conduct

28/10/2022

Maximum penalties for companies can be as high as A$50mn, three times the benefit derived from a breach, or 30% of annual turnover.

ESG / Sustainability

SGX RegCo Consults on Independent Director Tenure Limit

28/10/2022

The consultation also proposes to require listed companies to disclose director and CEO remuneration in annual reports on a named basis.

ASIC Calls Out Noncompliance With Breach Reporting Regime

28/10/2022

Not enough licensees are reporting, and they are taking too long to identify breaches, investigate them, and finalise remediation.

HKMA Confirms Health Arrangements for Upcoming Financial Forum

28/10/2022

Hong Kong Financial Secretary Paul Chan, who is due to deliver a keynote speech at the event, has tested positive for Covid-19 while in Saudi Arabia.

Capital / Liquidity

Taiwan FSC Proposes Rule Changes for Futures Brokers

28/10/2022

Some futures firms will be able to allocate more of their special surplus reserves towards dividend payments.

Enforcement

CommSec, AUSIEX Fined A$27m for Market Integrity Rule Breaches

27/10/2022

CommSec and AUSIEX demonstrated “widespread, systemic compliance failures” over a nine-year period, said ASIC deputy chair Sarah Court.

AML / KYC

Korea to Increase Scrutiny of Money Laundering Risks via Crypto

27/10/2022

The FSC will increase scrutiny of crypto tokens listed by just a single VASP, stablecoin transaction volumes, and customers making large deposits.

Fintech / Regtech

FCA Explores Competition Risks from BigTech in Retail Financial Services

27/10/2022

The consultation focuses on Big Tech firms’ entry and expansion into four retail sectors – payments, deposit taking, consumer credit and insurance.