Markets & Infrastructure

Conduct, Culture & Accountability

Australian Treasury Bans ‘Conflicted’ Commissions Paid on LICs

By Editors | 24/05/2020

Fund managers will be barred from paying fees to financial advisers and stockbrokers for selling listed investment companies and trusts.

Fraud, Scams & Cybercrime

CSRC Accuses Guangdong Fund Manager of Lying to Investors

By Editors | 24/05/2020

Guangdong-based Cornerstone Management reportedly lost 70% in two funds after promising a minimum 8% annual return.

Trading & Investment

SFC to Allow Leveraged, Inverse ETFs Tracking Mainland Indices

By Editors | 24/05/2020

The SFC is prepared to initially only accept ‘swap-based’ L&I products tracking Mainland equity indices, with a leverage factor up to 2x, or negative 1x for inverse products.

Conduct, Culture & Accountability

HKMA Publishes Findings from Bank Culture Reform Initiative

By Manesh Samtani | 24/05/2020

As a next step, the HKMA will conduct more focused reviews on retail banks’ front office in relation to the distribution of banking, investment and insurance products.

Structural Regulation

Taiwan to Allow Local Firms to Open Domestic OBU Accounts

By Editors | 22/05/2020

The FSC and central bank have agreed to allow local companies to open OBU accounts at domestic banks to facilitate their access to foreign currency borrowing.

Structural Regulation

New US Law Could Force Chinese Companies to De-list

By Editors | 21/05/2020

New legislation passed in the US Senate will require companies to submit to an audit that can be reviewed by the PCAOB, and de-list firms that at noncompliant for three years.

Payments & Settlements

SWIFT Publishes Blueprint to Assist EU Banks in ISO 20022 Transition

By Editors | 21/05/2020

SWIFT will provide new market practice guidelines and free validation and translation software to mitigate the impact of the ISO 20022 delay on EU banks.

Trading & Investment

SEBI Provides Exit Route for Franklin Templeton Investors

By Editors | 21/05/2020

Franklin Templeton will be allowed to list units of its six shuttered mutual funds on stock exchanges, providing an alternate exit route to investors whose money is trapped.

Trading & Investment

S. Korea to Introduce New Measures to Enhance ABS Markets

By Editors | 21/05/2020

The requirement for ABS issuers to be rated BB or higher will be removed to facilitate the use of securitisation for SME and startup financing, among other measures.