ESG / Sustainability

Singapore Fund Managers Highlight Political Risk: IMAS Survey

27/01/2018

Majority of respondents expect to follow multi-asset strategy in response to political pressures; managers also concerned about fintech disruption and compliance costs.

Enforcement

ASIC Finds Clear Bias Towards In-house WMPs at Big Banks

26/01/2018

The report says 68 percent of clients are heavily invested in banks’ in-house products; advisors may face bans if conflicts of interest are not managed better.

Capital / Liquidity

China Targets “Complex and Serious” Systemic Risks in Financial Sector

22/01/2018

CBRC announces greater focus on shadow banking and lending norms; CBRC chief warns of looming “black swan” event in financial industry.

Market Infrastructure

Korea Announces Measures to Reform Kosdaq Market to Support Startups

15/01/2018

Measures include overhauling Kosdaq listing requirements, strengthening competitiveness, and improving market soundness and investor trust.

Enforcement

UPDATED – PwC Gets 2-Year Ban from Auditing Listed Firms in India

15/01/2018

Ban relates to accounting fraud at software exporter Satyam Computer Services, where PwC was auditor.

Capital / Liquidity

China Releases Slew of Measures to Control Banking Risks

11/01/2018

New rules on entrusted lending practices, banking ownership, large exposures management in banks.

AML / KYC

India’s Biometric Identity Database Vulnerable to Cyber Attacks: RBI Research

11/01/2018

Aadhaar throwing up issues around data security even as financial benefits of the nation-wide biometric identification system are unclear.

Market Infrastructure

Korea’s Reduction in Foreign Shareholder Capital Gains Tax Threshold Arouses Concern

10/01/2018

Government to cut threshold from 25% to 5%, ASIFMA says reduction will challenge securities firms, produce no tax revenue.

AML / KYC

Singapore to Enforce AML/CTF Rules on Cryptocurrency Intermediaries

10/01/2018

Deputy prime minister says no major AML lapses have been found at Singapore banks when asked about ‘Russian Laundromat’ probe.