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Market Abuse
China Bond Default Shock Prompts NAFMII Underwriter Probe
By Manesh Samtani | 19/11/2020
Haitong Securities, Industrial Bank, China Everbright Bank, Zhongyuan Bank are suspected of violations, as recent defaults prompt concerns over the health of SOEs.
Fraud, Scams & Cybercrime
Australian Police Charge Ex-Promoter of Failed Crypto Platform
By Sanday Chongo Kabange | 19/11/2020
The former BitConnect promoter is said to have operated an unregistered managed investment scheme and provided unlicensed financial advice.
Conduct, Culture & Accountability
ASIC Drafts Reference Checking Protocol for Advisers, Mortgage Brokers
By Sanday Chongo Kabange | 19/11/2020
The Royal Commission recommended that reference checks be required for individuals seeking to be employed or authorised as a financial adviser or mortgage broker.
Trading & Investment
AllianceBernstein Seeks CSRC Approval for China Mutual Fund Unit
By Editors | 19/11/2020
US fund manager AllianceBernstein’s Hong Kong unit has applied to set up a mutual fund unit in China.
Structural Regulation
India’s Transition Away from LIBOR ‘Full of Challenges’
By Manesh Samtani | 19/11/2020
The RBI’s Vasudev Hemachandran writes about the need to replace MIFOR with an alternative rate, and the issues India faces in its transition.
Market Abuse
Deloitte Appointed to Review RBNZ Processes After Accidental Disclosure
By Editors | 18/11/2020
A letter confirming RBNZ’s decision to introduce a Funding for Lending Programme was sent to financial services firms 45 early last week.
Structural Regulation
US SEC to Propose Rules for Chinese Delistings Next Month
By Manesh Samtani | 18/11/2020
SEC officials have been working on the rules since August, when a presidential working group proposed enhanced listing standards to ensure access to Chinese audit work papers.
Trading & Investment
Singapore Sees Regulatory Support for Bank-Issued Covered Bonds
By Editors | 18/11/2020
Moody’s Investors Service says the higher encumbrance limit set by MAS last month may increase covered bonds issuances, deepen the market and reduce refinance risks.
Conduct, Culture & Accountability
ASIC Consults on Barriers to Good Quality Affordable Personal Advice
By Sanday Chongo Kabange | 18/11/2020
ASIC is looking to better understand the barriers to providing good quality and affordable advice and help the industry provide such advice more broadly.
Conduct, Culture & Accountability
FMA Proposes New Guidance on Financial Product Advertising
By Sanday Chongo Kabange | 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.
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