Securities / Derivatives

Philippines Issues Rules on New Investment Vehicle for Corporate Debt

26/08/2020

Corporate Debt Vehicles can issue securities to invest in bonds, notes or commercial papers issued by large corporations and medium-sized enterprises.

Securities / Derivatives

ASIC Allows ‘Frozen Funds’ to Pay Out Hardship Relief to Members

26/08/2020

The hardship relief will make it easier for responsible entities of frozen funds to enable withdrawals by investors suffering hardship, says ASIC’s Karen Chester.

AML / KYC

US Sanctions Chinese Individuals, Entities Over South China Sea

26/08/2020

The US accuses one Chinese state-owned enterprise of engaging in “corruption, predatory financing, environmental destruction, and other abuses across the world.”

Enforcement

Singapore CEO Fined Over ‘Interested Person’ Transactions

26/08/2020

Under the Securities and Futures Act, mainboard companies must immediately announce interested person transactions worth over 3% of tangible assets.

Fintech / Regtech

New P2P Lending Legislation Takes Effect in Korea

26/08/2020

Under the law, P2P lenders must meet new capital requirements and be registered with the FSC. Consumer protection is also enhanced.

Enforcement

SFC Imposes Lifetime Ban on Former China Citic Bank Employee

26/08/2020

The former relationship manager is said to have falsely represented to customers that an additional fee was needed to open an account with CITIC – which he then pocketed.

Securities / Derivatives

Thailand SEC to Allow Repo, Reverse Repo Trades by Retail Investors

25/08/2020

Allowing repo and reverse repo trades in listed securities and unit trusts with all investor types will provide them additional liquidity management tools, the SEC said.

Capital / Liquidity

FSB Publishes ‘Key Attributes’ Assessment Methodology for Insurance

25/08/2020

The methodology will guide the assessment of how well a jurisdiction’s insurance resolution framework aligns with the FSB’s Key Attributes for effective resolution regimes.

Capital / Liquidity

S. Korea Progresses Bill on Financial Conglomerate Supervision

25/08/2020

The bill provides the legal basis for the supervision of non-holding financial groups such as Samsung, Hanwha, Kyobo, Mirae Asset, Hyundai Motor, and DB.