Markets & Infrastructure

Credit Risk

Korea to Lower Max Interest Rate on Loans in H1 2021

By Editors | 30/12/2020

A new enforcement decree will take effect in February 2021, lowering the maximum interest rate on loans from 24% to 20%.

Clearing & Post-Trade

HKEX Clears First Cross Currency Swaps for Japanese FIs

By Editors | 29/12/2020

Japan’s FSA granted HKEX’s OTC Clear a licence allowing it to offer clearing services to Japanese financial institutions in January 2020.

Structural Regulation

NYSE Gets SEC Green Lights to Allow Direct Listings

By Editors | 29/12/2020

Companies will be able to directly sell shares in an auction without a traditional underwriter, enabling investors to participate in new listings more readily.

Conduct, Culture & Accountability

SFC, HKMA Offer Clarity on Product Disclosure, Suitability Obligations

By Manesh Samtani | 29/12/2020

The SFC and HKMA say firms may adopt a risk-based approach to streamline the provision of product disclosures for sophisticated or experienced investors.

Conduct, Culture & Accountability

ASIC Demands Better Practices to Improve Audit Quality

By Editors | 29/12/2020

ASIC is currently considering or progressing enforcement action for auditor misconduct in twelve cases, as part of efforts to improve audit quality.

Payments & Settlements

Shanghai International Energy Exchange Optimises FX Conversion Model

By Editors | 23/12/2020

To date, FX conversion has been carried out daily. Under the new model, FX conversion can be carried out for overseas participants on a monthly basis.

Supervision & Enforcement

SFC Fines Fulbright Securities Over Short Selling Controls

By Editors | 23/12/2020

Fulbright Securities failed to detect and prevent illegal short selling failures in at least 93 instances over a period of at least six months.

Structural Regulation

Chinese Banks Urged to Extend Financing Support to Foreign Funded Firms

By Editors | 23/12/2020

Major foreign-funded companies should get equal access to some financing programmes as their Chinese counterparts, said a circular from MOFCOM and the CBIRC.

Structural Regulation

Chinese Fintechs Remove Bank Deposit Products from Online Platforms

By Editors | 23/12/2020

Smaller regional lenders have circumvented the geographical limits of their licences by offering deposit products on online platforms operated by Ant Group and Tencent, among others.