Fintech / Regtech

China’s P2P Lending Sector Suffers Panic – Report

22/07/2018

Over 100 peer-to-peer lenders have failed so far this month, with some users turning up at operators’ offices to demand early repayment.

Capital / Liquidity

China Loan Classification Rules Start to Hit Rural Banks

22/07/2018

Rural commercial banks are experiencing credit downgrades as new loan classification rules force them to recognise souring loans as NPLs and set aside more capital against bad debt.

Enforcement

ASIC to Boost Regulatory Reporting Requirements to Deter Misconduct

22/07/2018

Deputy chair Peter Kell said ASIC wants increased volume and granularity of data reporting as it seeks to combat misconduct and improve consumer outcomes in financial services.

Securities / Derivatives

Bangladesh to Introduce Alternative Trading Board

21/07/2018

Officials say any equity, corporate bond, derivative or open-end mutual fund can be traded on the new platform, with no capital or disclosure requirements.

Securities / Derivatives

China Bourses Agree on Plan to Allow Trading in HK-Listed Dual Class Shares

19/07/2018

HKEX, SSE, SZSE to set up joint working group to formulate supplementary rules for including dual class shares in Stock Connect southbound trading, following ‘special stability trading period’.

AML / KYC

SFC Goes Live with Amended Professional Investor Rules

19/07/2018

Holding companies of existing qualified professional investors will gain status as professional investors; intermediaries must obtain confirmation that their shareholders are notified of the change.

Market Infrastructure

SEBI Proposes New Rules for Auditors, Other Fiduciaries

19/07/2018

Under the new proposals, fiduciaries providing false information in audit or valuation reports will face stringent penalties, including bans from securities markets and forced repayment of any gains deemed unlawful.

Securities / Derivatives

HK Exchange Publishes Structured Products Listing Guide

18/07/2018

Guide provides clearer framework and timelines to facilitate more efficient introduction of new structured products.

AML / KYC

SFC Provide Guidance on Online Client Onboarding

18/07/2018

Procedures to verify client identities include obtaining a digitally signed agreement and identity document copy, and the use of designated accounts in the client’s own name only for deposits and withdrawals.