Fintech / Regtech

RegTech Asia 2020: Regulatory Reporting & Data Management

01/10/2020

How have regulatory reporting requirements been changing in APAC, and what has this meant for data management practices at financial institutions?

SAFE Eases Administrative Burden of Bank Statistical Reporting

01/10/2020

Rule revisions relax requirements for banks to print foreign payment and collection vouchers, while also clarifying electronic forms and vouchers may be used in submissions.

ESG / Sustainability

First Chinese Sustainability Bond on Display at LuxSE’s Green Exchange

01/10/2020

The new $300mn issuance on display at LGX makes China Merchants Bank the first Chinese commercial bank to issue a sustainability bond.

Enforcement

CFTC Settles Charges Against Citi Over Deleted Audio Recordings

01/10/2020

Citi’s audio preservation system deleted more than 2.77 million audio files, including recordings that were subject to a December 2017 CFTC subpoena.

Capital / Liquidity

Fed Extends Restrictions on Bank Dividends, Share Buybacks

01/10/2020

Banks with more than $100bn in total assets are not allowed to initiate new share buyback programmes and dividends are capped based on recent income.

Market Infrastructure

CHESS Replacement ‘Critical’ to Manage Systemic Risk: RBA

01/10/2020

Replacing CHESS with more modern technology is critical to ASX’s ongoing management of systemic risk, said RBA assistant governor Michele Bullock.

Market Infrastructure

Hardware Failure Causes Full Day Closure at Tokyo Exchange

01/10/2020

The TSE apologised for inconvenience caused to investors and said it is replacing the faulty hardware. Trading is expected to resume Friday.

Enforcement

ASIC Commences Proceedings Against Cigno, BHF Solutions

01/10/2020

Both companies have been providing credit to a large number of consumers and charging “substantial fees”, without holding an Australian credit licence.

Enforcement

US Authorities Settle JP Morgan Spoofing Charges for $920m

01/10/2020

The settlement will fully resolve investigations carried out by the DOJ, CFTC and SEC into trades made over nearly ten years.