Capital / Liquidity

Korea Expands Crack Down On Speculative Household Lending

30/08/2018

Regulatory authorities will conduct on-site inspection to ensure that banks are in compliance with tighter household lending requirements and that business loans have not been used to purchase houses in 15 wards of Seoul.

Market Infrastructure

Philippines Passes Bill Appointing Central Bank As Payments Regulator

30/08/2018

BSP appointed as payments regulator in the Philippines to ensure safe and efficient functioning of the country’s payments system, promote interoperability among payment networks and incorporate digital payments.

Market Infrastructure

BSP Unveils First Financial Stability Report

30/08/2018

Inaugural financial stability report focuses on impact of higher interest rates and weakening EM currencies on outstanding debt. It also looks at potential financial stability implications from fintech and ASEAN integration.

Securities / Derivatives

CSRC Outlines Rules for Foreign-Invested Futures Firms

28/08/2018

Securities regulator set out requirements for firm shareholders, senior management and application documents. Foreign-funded futures firms must hold all core consumer data and transaction data servers on the mainland.

Fintech / Regtech

Baidu’s Fintech Arm Receives Fund Distribution Licence

28/08/2018

A unit of Du Xiaoman, a Baidu subsidiary, received a fund distribution licence from the CSRC and will have six months to complete preparatory work. It will also need to apply for a securities and futures license.

Enforcement

NAB, CBA Could Face Criminal Charges: Australian Royal Commission

27/08/2018

Misconduct findings by the Australian Royal Commission spanned the financial sector, notably singling out ASIC and APRA as lacking authority and questioning if they were up to the job of protecting customers.

AML / KYC

HKEX Unveils Details of New Northbound Investor ID Regime

27/08/2018

HKEX to launch secure file transfer protocol service for exchange participants later this month to ensure smooth transition to new investor ID regime for northbound trading, set for 17 September.

Enforcement

EY, Two Partners Fined for Audit Failures on 20-Year Old Stock Listings

27/08/2018

EY and two of its partners were collectively fined HK$700,000 plus HK$1.5mn in legal costs for failing to properly audit the financial statements of three firms that went bust soon after being listed.

Securities / Derivatives

SEBI Concerned About AUM Concentration Among Mutual Funds

27/08/2018

SEBI chairman expressed concern about the high concentration of AUM among the top mutual funds and spoke of the need for greater competition in the industry.