Securities / Derivatives

China Launches First New Domestic Securities Firm in Ten Years

11/11/2020

The company was set up to take over the securities-related assets of CEFC Shanghai Securities, whose licenses were revoked last year.

AML / KYC

MAS Proposes to Strengthen FIs’ Identity Verification Process

10/11/2020

The proposed Notice will prohibit FIs from relying on common personal information such as NRIC number, residential address and date of birth as the sole means of identity verification.

Fintech / Regtech

Australian Regulators Propose New Regulatory Regime for SVFs

10/11/2020

The proposed framework includes flexibility to ensure that regulation is able to adapt to innovations such as digital wallet facilities and global stablecoins.

Capital / Liquidity

BOJ Offers Interest Incentive for Regional Banks to Merge

10/11/2020

Regional banks can earn the interest rate by meeting certain overhead reduction targets or by agreeing to a merger with another bank.

Market Infrastructure

FIs Need to Bolster Security Controls to Mitigate Cyber Risk: MAS

10/11/2020

FIs need to review the adequacy of their cyber risk mitigating measures and controls, including in relation to third-party vendors and open-source software.

Capital / Liquidity

APRA Adjusts Capital Treatment of Equity Investment in Subsidiaries

10/11/2020

The move is aimed at ensuring that any new or additional equity investments by banks in subsidiaries is backed by appropriate capital to reduce the risk to Australian depositors.

Securities / Derivatives

Thailand Makes Stock Trading Fees Tax-deductible Until Year-End

10/11/2020

The SEC has notified investors that they can use securities and futures trading fees for tax deductions under a new government scheme.

Market Infrastructure

IFC, HKMA Launch New Alliance to Address Climate Change

09/11/2020

IFC and the HKMA will bring together FIs, associations, research institutions, and technology providers to build capacity for green finance and promote climate investments.

Enforcement

SFC Fines Credit Suisse Securities Over Market Making Errors

09/11/2020

Credit Suisse Securities submitted 17,000 erroneous market making quotes to the market in 8 minutes due to a logic error in its symbol mapping programme.