Capital / Liquidity

SGX Proposes Amendments to Boost Capital Efficiency for Members

08/07/2018

Proposed amendments include removal of risk-based capital and net liquid capital requirements currently imposed on remote and bank members, among other changes.

Market Infrastructure

Japan FSA Issues Revised Report on Supervisory Overhaul

08/07/2018

Report was revised following consultation on proposed move to ‘dynamic supervision’ model; FSA says existing supervisory approaches deter focus from priority issues and may not prevent next crisis.

Capital / Liquidity

APRA Proposes Amendments to Mitigate Contagion Risk from Related Parties

08/07/2018

Proposals include broadening the definition of related entities to include substantial shareholders and board directors, and aligning the framework with recently revised standards for large exposures to unrelated entities.

Enforcement

MAS Reprimands Asset Manager for Late Regulatory Submissions

08/07/2018

Annual declarations, auditor reports and director change notifications were submitted up to three years late by Taiyo Asset Management; director found guilty of misconduct for failure to implement compliance controls.

Capital / Liquidity

ASIC Proposes New Capital Regime for Market Participants

08/07/2018

New minimum capital for futures and securities participants proposed at A$1m and A$0.5m, respectively; futures and securities capital rulebooks to be consolidated.

Enforcement

New Zealand Court Jails Ponzi Scheme Operator for 7.5 Years

05/07/2018

Over 900 investors were persuaded to invest over NZ$8mn with registered foreign exchange provider BlackfortFX, though the firm did not conduct any investment activity.

Securities / Derivatives

SFC Imposes Enhanced Reporting Obligations on Authorised Funds

04/07/2018

Enhanced reporting obligations to include data on liquidity profiles, subscription and redemption amounts, asset allocation, and securities financing/borrowing transactions.

Securities / Derivatives

Mainland Investors Gain Access to HK Stock Research

04/07/2018

New rules enable better access to research reports and advice on HK-listed stocks, and opportunities for HK securities firms to distribute their research through mainland firms.

AML / KYC

Tax Law Forces New Zealand Banks to Freeze Accounts

04/07/2018

Banks required to find out whether customers are foreign tax residents and report to Inland Revenue; unresponsive customers are having their accounts put on hold.