Market Infrastructure

China Issues New Rules for Foreign Financial Networks, Information Services

01/08/2018

New regulations require overseas financial network and information services providers such as SWIFT to submit written reports to the PBOC.

Fintech / Regtech

Chinese Bank Trials Blockchain-based Loan Issuance

01/08/2018

Agricultural Bank of China has issued a ¥2mn loan backed by farmland from a Guizhou province branch; new system speeds up loan issuances and prevents fraud.

Fintech / Regtech

Big Four to Pilot Blockchain-based Auditing in Taiwan

24/07/2018

Deloitte, EY, KPMG and PwC will cooperate with a consortium of 20 banks to simplify the auditing process for public companies.

Securities / Derivatives

China Publishes Draft Rules on Bank WMP Business

23/07/2018

New rules are designed to standardise the sector including by strengthening supervision, preventing shadow banking risks, improving leverage controls and protecting investors’ interests.

Fintech / Regtech

HKMA to Launch Blockchain-based Trade Finance Platform by September

18/07/2018

Platform will boost efficiency, lower costs and reduce fraud risks in trade finance for participating banks, which include HSBC, SCB, ANZ, BEA, DBS and Hang Seng.

Market Infrastructure

India Proposes to Relax Payments Data Onshoring Rules

16/07/2018

New proposal would allow international payments firms to store data offshore while only maintaining a copy in India, following lobbying effort by MasterCard, Visa and American Express.

Enforcement

Former NAB Branch Manager Banned for Loan Fraud

13/07/2018

ASIC investigation found the branch manager accepted false documents to support loan applications and falsely attributed loans to obtain undue commissions.

Securities / Derivatives

FSC Eases Listings for Taiwan Owned Foreign Companies

13/07/2018

New rules to attract overseas companies to list in Taiwan include the removal of a profitability requirement and a shortening of the FSC’s listing application review process.

Securities / Derivatives

Myanmar Stock Market Starts to Open to Foreign Investors

10/07/2018

Under a new law due to take effect from 1 August, resident foreigners will be able to invest in up to 35% of the share capital of YSX-listed companies.