Market Infrastructure

Bank Indonesia Issues Implementation Regulations for BI-FAST

22/11/2021

Banks with IDR 6 trillion in core capital, and non-bank institutions with IDR 100 billion in paid-up capital, can be direct participants of BI-FAST.

Big Picture

More China SOE Bond Defaults Expected in 2022, says Moody’s

22/11/2021

Defaults by Chinese SOEs will increase in 2022, but Chinese authorities will intervene in situations with potential spillover risks.

AML / KYC

AUSTRAC Issues Guidance on Misuse of Payment Text Fields

22/11/2021

Payment text fields in financial transactions are increasingly being used as a method of criminal communication or abuse, AUSTRAC says.

Securities / Derivatives

China Banks Directed to Limit Proprietary Trading in Currencies

21/11/2021

The directions are part of efforts to limit speculation on the yuan to prevent further strengthening of the currency and protect the export sector.

AML / KYC

Singapore Repatriates Another $16.3m of 1MDB Funds to Malaysia

21/11/2021

Total 1MDB assets amounting to $4.9bn have now been returned. Asset recovery is still being pursued in the US, UAE, Taiwan, Singapore, and Hong Kong, among other countries.

Enforcement

HKMA Penalises Four Banks for AML Violations

21/11/2021

ICBC (Asia), UBS, CCB (Asia) and CTBC Bank were fined a combined HK$44.2mn for deficiencies in customer monitoring, periodic reviews and due diligence.

Securities / Derivatives

SEBI Publishes Charter of Investor Rights in Securities Market

21/11/2021

The charter sets out the rights and responsibilities of investors, as well as some ‘dos and don’ts’ of investing in the securities market.

Securities / Derivatives

China Lifts Freeze on ABS Issuance by Property Developers

21/11/2021

Regulators reportedly plan to also relax restrictions on the size of new interbank bond issuance by “high quality” developers.

Fintech / Regtech

ASX Opens DLT-as-a-Service Platform for Production Use

21/11/2021

Synfini uses the same underlying technology as ASX’s replacement system for CHESS, but is offered as a cloud service to facilitate product innovation.