Malaysia

The HKMA has responded to the US rate cut with a cut of its own. The RBA and BNM have also cut their key policy rates, while the BOJ focuses on asset purchases.

The new exposure draft incorporates a simplified regulatory framework for digital banks applicable during the initial three to five years of operations.

The measures include an immediate 12-month waiver of listing-related fees for smaller companies, a new capital market investment fund, and additional financing options for SMEs.

The establishment of the new wholly-owned subsidiary, 'Bursa RegSub', follows a similar approach to SGX, which formed SGX RegCo to undertake all regulatory functions in 2017.

Malaysia's Securities Commission says it will allow conservative PRS funds to invest in foreign markets, providing them more flexibility in asset allocation.

Malaysia has filed new charges against fugitive financier Jho Low and two PetroSaudi International directors over their alleged roles in the 1MDB scandal.

1MDB sorely tested principles-based regulation and compliance at Goldman Sachs. But, the bank was likely set up as a victim from the very beginning, says Peter Guy.

Maybank, CIMB and Public Bank have been designated as D-SIBs and will have to maintain extra capital buffers from 31 January 2021 to reduce the probability of failure.

BNM will publish further guidance on the methods used for verifying customer and beneficial owner information and for authenticating their documents.

CIMB, Hong Leong Bank, Maybank, Grab, Razer, AirAsia, Axiata are reportedly considering submitting bids for Malaysian digital bank licences.