Securities / Derivatives

ASIC Urges Listed Entities to Disclose Business Risk Properly

23/12/2021

Listed company directors and auditors should focus on impairment of assets, particularly as some businesses may be adversely affected in a post-Covid environment.

Securities / Derivatives

SEC Issues New Disclosure Guidance for US-Listed Chinese Firms

23/12/2021

The guidance focuses on the need for clear and prominent disclosure regarding the use of VIE and SPAC structures, and the associated legal and operational risks.

AML / KYC

EBA Issues New Guidelines, Technical Standards for AML/CFT

23/12/2021

The guidelines cover supervisory cooperation and risk-based supervision of banks. New draft RTS are published for a new EU-wide database known as EuReCa.

Securities / Derivatives

CSRC to Bar Mainlanders from Using Northbound Stock Connect

22/12/2021

A CSRC rule amendment will specify that mainland investors are not to be included as qualified investors in the northbound legs of Stock Connect.

Fintech / Regtech

PBOC to Connect Digital Yuan to HK Faster Payment System

22/12/2021

The second phase of the ongoing CBDC trails between the Mainland and Hong Kong will involve connecting e-CNY wallets to Hong Kong’s FPS.

Capital / Liquidity

APRA Outlines Considerations for CCyB Decisions

22/12/2021

APRA confirmed that the CCyB would be set at the new default level of 1 percent of RWA from 1 January 2023, a feature of the new bank capital framework.

Market Infrastructure

Vietnam Debuts New Umbrella Entity to Manage Stock Exchanges

16/12/2021

VNX, or Vietnam Stock Exchange, will serve as a new umbrella entity to manage the Hanoi and Ho Chi Minh stock exchanges.

Capital / Liquidity

RBI Introduces New PCA Framework For NBFCs to Contain Risk

16/12/2021

The PCA framework will take effect on 1 October 2022. Restrictions will be imposed on NBFCs if they breach capital adequacy, Tier 1 capital and net NPA thresholds.

AML / KYC

FinCEN Seeks Comments on Modernising US AML/CFT Regime

15/12/2021

FinCEN’s review of BSA regulations will help it to identify regulations and guidance that are out-dated, redundant, inefficient, or unfit for purpose.