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Structural Regulation
In-Depth: Making Sense of Digital Bank Policy
By Jamie Lloyd Evans | 07/04/2020
Industry veteran Jamie Lloyd Evans takes a detailed look at digital banking regimes in Asia, and the stated – and unstated – motivations behind them.
Conduct, Culture & Accountability
SFC Fines HSBC Units for Cash Management Failures at Funds
By Editors | 07/04/2020
The identified concerns have all since been rectified, and the two units have agreed to pay over $430,000 into the affected funds, on top of a $451,000 fine from the SFC.
Operational Risk
RBI Reduces Market Hours to Curb Volatility
By Editors | 06/04/2020
During India’s lockdown, currency, bond and money markets will operate for only 4 hours. SEBI has also brought forward the cut-off times for the mutual fund industry.
Fraud, Scams & Cybercrime
CSRC Opens Investigation into Fraud at Coffee Chain
By Editors | 06/04/2020
The chief operating officer of Nasdaq-listed Luckin Coffee, along with his employees, are said to have fabricated about $310mn worth of sales transactions.
Trading & Investment
Japan Lacks Consensus on LIBOR Replacement – Report
By Editors | 05/04/2020
About 57% of Japanese banks say TIBOR should be used, while about 70% of companies prefer to use forward-looking term rates based on TONAR.
Structural Regulation
RBI Grants Exemptions to Small Finance Banks
By Editors | 02/04/2020
Existing small finance banks will not need prior RBI approval to undertake non-risk sharing simple financial service activities or open banking outlets in unbanked rural centres.
Structural Regulation
CSRC Starts Accepting Licence Applications from US Fund Managers
By Editors | 02/04/2020
BlackRock and Neuberger Berman applications to set up wholly-owned mutual fund units were accepted on the first day foreign ownership caps were scrapped in China.
Trading & Investment
India Further Opens Bond Market to Non-resident Investors
By Editors | 02/04/2020
The RBI has fully opened certain categories of government securities to non-resident investors and raised the FPI limit for investment in corporate bonds.
Structural Regulation
Australia Tightens Foreign Investment Rules, Citing National Interest
By Editors | 02/04/2020
Federal approval is now required for all proposed foreign investments regardless of value or the nature of the foreign investors.
Structural Regulation
SFC, Stock Exchange Issue Guidance on Holding General Meetings
By Editors | 01/04/2020
Listed issuers should consider adjourning or delaying their general meetings until at least after 11 April, when the prohibition on group gatherings has ended.
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