ASIC Warns Against Noncompliance with Conflicted Remuneration Ban

14/12/2020

ASIC issued updates to RG 246 that would reflect the end grandfathering of conflicted remuneration for financial product advice from 1 January 2021.

Australia to Further Streamline Financial Advice Regulations

14/12/2020

Streamlining the number of bodies involved in financial adviser oversight will reduce complexity and add value for retail investors, said SAFAA CEO Judith Fox.

Market Infrastructure

PBOC Approves Establishment of Second Personal Credit Agency

14/12/2020

The agency will be jointly owned by the Beijing government, JD.com, Xiaomi and facial recognition start-up Megvii Technology.

ASIC Provides Guidance on Product Design and Distribution Obligations

14/12/2020

The new regulatory guide addresses demand from industry for ASIC guidance as it prepares for the obligations to take effect on 5 October 2021.

Securities / Derivatives

South Korea to Punish Illegal Short Sellers with Jail Time

13/12/2020

Under a revision bill that could take effect by Q2, naked short sellers will face up to a year in jail or up to five times profits on a trade.

Market Infrastructure

China Tightens Limit on Overseas Borrowing to Curb Inflows

13/12/2020

The decision is said to be part of a push to tame risks from overseas borrowing, which has rapidly increased as the yuan strengthened in recent months.

ESG / Sustainability

SGX to Promote China Bond Markets, MAS Registers Shanghai Office

13/12/2020

A series of MOUs to deepen collaboration in financial services and innovation were announced at the 2nd Singapore-Shanghai Comprehensive Cooperation Council meeting on Friday.

Securities / Derivatives

NZ RegCo Launches as NZX’s Listed Markets Regulator

13/12/2020

The now stand-alone, independently-governed agency will perform all of NZX’s frontline regulatory functions, with its Board providing support.

APRA Directs Financial Firms to Use New D2A for Reporting From April

13/12/2020

APRA says entities should upgrade all instances of D2A between now and 31 March 2021. All submissions after 31 March 2021 must be made using D2A version 6.