Securities / Derivatives

Dutch Brokerage IMC Granted Preliminary Licence in Korea

17/01/2021

The approval of the preliminary financial investment business licence marks the FSC’s first approval of a foreign-based trading firm in three and a half years.

Market Infrastructure

ISDA Urges Adherence to IBOR Fallbacks Protocol

17/01/2021

Over 5,900 entities in 70 jurisdictions have adhered to the protocol, which is intended as a safety net to mitigate the systemic impact of an IBOR cessation.

Securities / Derivatives

New Zealand FMA Consults on Wholesale Investors Exclusion

17/01/2021

The notice under review exempted offerors of certain financial products from having to provide normal disclosures to investors whose minimum investment is NZ$750,000 or more.

Crypto / Digital Assets

SET Announces Three Year Plan to Bolster Capital Market

17/01/2021

The SET will increase fundraising opportunities for local and foreign firms, promote ESG reporting, and add more products with international exposure.

CBIRC Sets Out New Rating System for Consumer Credit Sector

17/01/2021

Consumer finance firms with the lowest ratings will be ordered to submit to a merger, acquisition, reorganisation, or to withdraw from the market.

PBOC Removes Limits on Credit Card Rates – Report

17/01/2021

The new policy is expected to benefit smaller card issuers and encourage competition from internet platforms and tech giants.

AML / KYC

SEBI Proposes New Process for KYC in Securities Market

17/01/2021

Under the proposal, KYC Registration Agencies, stock exchanges and depositories would be responsible for client KYC processes.

Enforcement

30 Firms Reprimanded Over Data Privacy Violations in Guangdong

16/01/2021

The Guangdong Communications Administration ordered 30 firms including banks and securities firms to fix the breaches and revamp their mobile phone apps.

ESG / Sustainability

Korea to Require ESG Disclosures from Listed Companies

15/01/2021

Large companies will have to disclose ESG information from 2025. This will expand to all KOSPI-listed companies from 2030.