Markets & Infrastructure

Fraud, Scams & Cybercrime

NAFMII Penalises Bank of Beijing with Underwriting Suspension

By Editors | 20/07/2020

NAFMII says Bank of Beijing failed to perform due diligence and adequately monitor five bond issuances for Kangde Xin Composite Material Group, all of which defaulted in recent years.

Structural Regulation

FSC Korea Revises Guidelines for P2P Lending Firms

By Editors | 20/07/2020

The key changes will strengthen disclosure rules, prohibit unfair sales activities, restrict sales of high-risk investment products, and impose limits on loans and investments.

Trading & Investment

CFTC Grants Certification to 23 HKFE Index Futures Contracts

By Editors | 20/07/2020

The 23 contracts can be offered and sold to US persons, and are among the new products being introduced as part of a ten-year licensing agreement with MSCI.

Payments & Settlements

China to Connect Interbank, Exchange Traded Bond Markets

By Editors | 19/07/2020

Qualified investors will be able to buy and sell tradable bonds in either of the two markets through a single nominee account, subject to meeting investor suitability requirements.

Capital Adequacy

G20 Officials Pledge Further Support to Global Economy

By Editors | 19/07/2020

The G20 officials have pledged to continue using all available policy tools to help support the global economy and enhance the resilience of the financial system.

Conduct, Culture & Accountability

Westpac Unveils Change Programme to Fix Risk Culture

By Editors | 19/07/2020

Westpac says aspects of its nonfinancial risk culture are “immature and reactive”, and that the bank is “overly complex”, resulting in unclear accountabilities and challenges in execution.

Structural Regulation

Hong Kong Regulators Offer Assurances on National Security Law

By Editors | 19/07/2020

Financial Secretary Paul Chan has asked Hong Kong financial regulators to explain to their stakeholders that the national security law will not harm their operations.

Structural Regulation

RBI Sets Fair Practices Code for Asset Reconstruction Companies

By Duruthu E Chandrasekera | 19/07/2020

The new Code sets out transparent and fair procedures for when asset reconstruction companies acquire assets from banks, along with anti-harassment provisions to protect borrowers.

Supervision & Enforcement

ESMA Opens Probe Into Germany’s Wirecard Response

By Editors | 19/07/2020

ESMA’s fast track assessment will focus on whether BaFin and accounting watchdog FREP properly applied European guidelines on enforcing the reporting of financial information.