Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Enforcement
SEBI Quadruples Penalties Against CRAs Over IL&FS Failures
26/09/2020
In December, SEBI issued INR 2.5 million penalty orders against ICRA, India Ratings & Research and Care Ratings. This has been raised to INR 10 million.
Thailand: BOT to Revamp Banks’ Reporting Requirements
26/09/2020
The reforms will reduce data processing steps for financial institutions and the costs associated with reporting, while increasing reporting efficiency.
Securities / Derivatives
BSP Approves Sale of Unit Investment Trust Funds via Third Parties
26/09/2020
New rule amendments allow trust corporations to offer their investment products through third-party distributors, including individual and institutional agents.
Securities / Derivatives
CSRC Approves Four ETFs Tracking New SSE STAR 50 Index
26/09/2020
China Asset Management, E Fund Management, Huatai-PineBridge Fund Management and ICBC Credit Suisse Asset Management received approval.
Market Infrastructure
ASX Responds on Tranche 2 Rule Changes for CHESS Replacement
26/09/2020
The consultation on the 2nd tranche of rule changes covered operating rules relating to corporate actions, mFund and RTGS payment aspects for the new system.
Enforcement
New Zealand FMA Warns of Action Against Poor Conduct
25/09/2020
There are no excuses for conduct that presents the risk of harm to investors, customers and the integrity of the markets, says FMA chief Rob Everett.
Securities / Derivatives
Sumitomo Mitsui Under Fire for Miscounting Shareholder Votes
25/09/2020
Sumitomo Mitsui confirmed that 1,139 shareholder voting forms were not counted even though they were delivered in time.
Market Infrastructure
European Commission Grants 18 Months Equivalence to UK CCPs
25/09/2020
The European Commission says the decision will give financial market participants time to reduce their “excessive” exposures to UK-based CCPs.
AML / KYC
HKMA Issues Guidance on Remote Onboarding of Corporate Clients
25/09/2020
Onboarding processes should be designed reflecting the principle that CDD is not merely a document collection exercise, the HKMA says.
Market Infrastructure
FCA Consults on Regulatory Approach for International Firms
24/09/2020
The FCA is seeking views on its approach to authorising international firms that wish to provide financial services in the UK post-Brexit.
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