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Emerging Prudential Risks
Bank Indonesia Cuts Rates, Pledges More Bond-Buying
By Editors | 22/06/2020
Bank Indonesia abandoned the practice of quantitative easing in 1999 to ensure fiscal discipline in the aftermath of the Asian financial crisis.
Structural Regulation
CBIRC Allows AIA to Incorporate as Wholly-owned Subsidiary in China
By Editors | 22/06/2020
The new subsidiary will become the first wholly foreign-owned life insurance company approved for incorporation in mainland China.
Supervision & Enforcement
Australia: Banks Work Towards Swift Resolution of Advice Failures
By Editors | 22/06/2020
Larger than required remediation payments could be fast-tracked for all clients by forgoing the years of work needed to locate advice files and calculate individual payments.
Clearing & Post-Trade
What CSDR’s Settlement Discipline Regime Means for Asia’s Buy-side
By Matt Johnson | 22/06/2020
CSDR’s Settlement Discipline Regime could expose Asian firms to settlement failure penalties on their trades with EU counterparties, writes DTCC’s Matt Johnson.
Trading & Investment
SSE Revamps Index Methodology to Better Reflect Market Performance
By Editors | 22/06/2020
Index stocks with risk warnings will be removed, CDRs and STAR Market stocks will be included, and the timeframe for including newly-listed stocks will be extended.
Trading & Investment
CSRC to Further Promote Shanghai as International Financial Centre
By Editors | 22/06/2020
The pace of opening up China’s capital market has further accelerated, in spite of the Covid-19 pandemic, CSRC chairman Yi Huiman said at the 12th Lujiazui Forum in Shanghai on Thursday.
Anti-Money Laundering
European Fintechs Launch New Industry Association
By Editors | 19/06/2020
The European FinTech Association will seek to remove cross-border barriers in financial services, including to streamline fragmented AML rules and address IBAN discrimination.
Market Abuse
CFTC Settles Deutsche Bank Spoofing, Swaps Reporting Cases
By Editors | 19/06/2020
Deutsche Bank will pay $9mn for violating swap data reporting requirements during a system outage, and $1.25mn for spoofing carried out by two Tokyo-based traders.
Market Abuse
SFC Publicly Criticises CICC Units for Breaching Takeovers Code
By Editors | 19/06/2020
CICC and CICC Financial Trading – as associates of the CICC securities unit advising on certain offers – dealt in the relevant securities without making timely disclosures.
Structural Regulation
CSRC Approves Full JP Morgan Control of Futures Joint Venture
By Editors | 18/06/2020
JP Morgan will boost its stake in the joint venture from 49% to 100%, making it the first fully foreign-owned futures business in China.
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