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Conduct, Culture & Accountability
ASIC Provides Guidance on Product Design and Distribution Obligations
By Editors | 14/12/2020
The new regulatory guide addresses demand from industry for ASIC guidance as it prepares for the obligations to take effect on 5 October 2021.
Market Abuse
South Korea to Punish Illegal Short Sellers with Jail Time
By Editors | 13/12/2020
Under a revision bill that could take effect by Q2, naked short sellers will face up to a year in jail or up to five times profits on a trade.
Emerging Prudential Risks
China Tightens Limit on Overseas Borrowing to Curb Inflows
By Editors | 13/12/2020
The decision is said to be part of a push to tame risks from overseas borrowing, which has rapidly increased as the yuan strengthened in recent months.
Trading & Investment
SGX to Promote China Bond Markets, MAS Registers Shanghai Office
By Editors | 13/12/2020
A series of MOUs to deepen collaboration in financial services and innovation were announced at the 2nd Singapore-Shanghai Comprehensive Cooperation Council meeting on Friday.
Structural Regulation
NZ RegCo Launches as NZX’s Listed Markets Regulator
By Editors | 13/12/2020
The now stand-alone, independently-governed agency will perform all of NZX’s frontline regulatory functions, with its Board providing support.
Conduct, Culture & Accountability
SFC to Raise Competency Bar for Licensees, With Some Flexibilities
By Editors | 13/12/2020
Among the changes, the SFC proposes tougher requirements for advisers on Takeovers Code transactions, to address concerns about the poor quality of work in this area.
PEPs & Sanctions
S&P DJI Announces Removal of Chinese Companies from Indices
By Editors | 13/12/2020
The move follows last month’s executive order prohibiting US persons from purchasing securities of companies identified as being owned or controlled by China’s military.
Conduct, Culture & Accountability
APRA Publishes Findings From Big Banks’ BEAR Implementation Review
By Editors | 11/12/2020
CBA had the most developed approach to implement the BEAR, benefitting from the execution of its remedial action plan associated with the Prudential Inquiry.
Structural Regulation
Singapore Set Out Timelines for Full Discontinuation of SIBOR
By Manesh Samtani | 11/12/2020
The one-month and three-month SIBOR will be discontinued by end-2024. The discontinuation of the six-month SIBOR may depend on the timing of cessation of USD LIBOR.
Trading & Investment
PBOC, HKMA Explore Southbound Leg for Bond Connect
By Editors | 09/12/2020
The PBOC and HKMA will form a working group to study the framework for a southbound leg of Bond Connect. No timelines have been set.
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