Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Big Picture
Australia Funds Industry Prone to Conflicts of Interest
26/09/2021
A “long, complex value chain” of intermediaries between fund managers and retail investors raises the potential for conflicts of interest.
Securities / Derivatives
ICMA, NAFMII Publish Guidance on China Interbank Bond Market
26/09/2021
The guidance includes a handbook on investing in the CIBM, as well as a set of case studies to help foreign companies better understand panda bond issuance.
Capital / Liquidity
CBIRC Revises Regulatory Rating System for Banks
25/09/2021
The new rating system will increase emphasis on corporate governance and data governance, and be used as the basis for early detection and intervention to address risk.
Crypto / Digital Assets
PBOC Intensifies Crackdown on Cryptocurrency Activity
25/09/2021
Services for virtual currency transactions are deemed illegal, including those provided to Chinese residents by overseas crypto exchanges.
Enforcement
China: Ex-Citic Group Executive Gets 18 years Jail for Bribes
24/09/2021
Zhao Jingwen was sentenced to 18 years in prison and fined CNY 3.2 million for embezzlement and receiving CNY 5.5 million in bribes.
NZ FMA Finds “Poor Value” in Credit Card Repayment Insurance
24/09/2021
Underwriters and distributors are directed to ensure their systems, processes and controls facilitate good customer outcomes.
Market Infrastructure
Japan FSA Issues Business Improvement Order to Mizuho
24/09/2021
The order requires Mizuho to submit a report to the FSA by 29 October on its IT systems and detailed improvement plans.
Market Infrastructure
IBA Launches New RFR Indexes to Facilitate LIBOR Transition
24/09/2021
IBA has now launched RFR indexes for SOFR, SONIA, €STR and TONA, providing daily values that represent accrued compound interest.
Capital / Liquidity
China Expands Permitted Scope for Overseas Loans
24/09/2021
The draft rules seek to impose a cap on the total balance of offshore loans while also loosening restrictions on the types of lending banks can engage in.
Fintech / Regtech
Ant Group’s Huabei Starts Reporting Credit Data to PBOC Database
23/09/2021
The data-sharing arrangement is part of the rectification measures ordered by financial regulators to break Ant Group’s “information monopoly” over data collection.
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