Conduct, Culture & Accountability

FMA Proposes New Guidance on Financial Product Advertising

18/11/2020

The guidance sets out the FMA’s expectations of what good conduct in the advertising of offers of financial products looks like.

Trading & Investment

BSE India Launches New Investment Platform for Fund Managers

17/11/2020

Asset managers can transact for all their schemes through the new platform rather than switch between multiple platforms as is current practice.

Credit Risk

PBOC Official Warns Lenders of Need to Protect Asset Quality

17/11/2020

Sun Tianqi, appointed as head of the PBOC’s Financial Stability Bureau in May, urged commercial lenders to increase loan loss provisions and dispose of more NPLs.

Operational Risk

US Agencies Urge Banks Forward on LIBOR Transition

15/11/2020

The Fed, OCC and FDIC have asked banks to move away from LIBOR ‘without delay’, accelerate customer outreach, and prepare their systems for the transition.

Structural Regulation

CSRC Pledges to Improve Listed Company Governance, Supervision

15/11/2020

A targeted campaign will be launched to improve supervisory oversight in the capital market and enhance corporate governance in listed companies.

Capital Adequacy

RBNZ Defers Start Date for Higher Bank Capital to June 2022

11/11/2020

The RBNZ will also consult on re-instating LVR restrictions, maintain dividend restrictions for banks, and launch a new facility to provide cheap funding for banks.

Anti-Money Laundering

Philippine Authorities Probe Financial Transactions Linked to Wirecard

11/11/2020

The National Bureau of Investigation is examining the financial transactions of a law firm office that appears to have provided legal services to Wirecard and Jan Marsalek.

PEPs & Sanctions

US Sanctions Four More Officials Over Hong Kong National Security Law

10/11/2020

China’s Foreign Ministry says the move is a violation of the basic norms governing international relations, urging the US to withdraw the sanctions.

Conduct, Culture & Accountability

New Zealand FSC Publishes Disclosure Guide for Financial Advice Regime

10/11/2020

The ‘Disclosure Guide’ will help advisors comply with the changes to disclosure requirements under the new financial advice regime which comes into force on 15 March 2021.