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Structural Regulation
Philippine SEC Issues New Corporate Governance Code
By Editors | 10/01/2020
The new code comes into effect on 12 January, and gives public companies and registered issuers 6 months to submit a new manual on corporate governance.
Credit Risk
Vietnam Central Bank Sets Out 2020 Policy Tasks
By Editors | 10/01/2020
The key policy tasks for the year include reducing banking sector NPLs to below 2% and promoting the use of non-cash payments.
Payments & Settlements
PBOC Reverses No Interest Policy for Payments Companies – Report
By Editors | 10/01/2020
The PBOC will pay just 0.35% annually on customer money that payments firms hold with the central bank, but the move marks a reversal of an earlier decision to pay no interest.
Structural Regulation
JP Morgan Applies for Control of China Futures Business
By Editors | 10/01/2020
The application to take a majority stake in Guangdong-based JPMorgan Futures follows the removal of the foreign ownership limit for futures companies on 1 January 2020.
Structural Regulation
SGX RegCo Adopts Risk-Based Approach to Quarterly Reporting
By Manesh Samtani | 10/01/2020
A new risk-based approach to quarterly reporting and stronger continuous disclosure requirements will apply from 7 February. The new whistleblowing office has also been established.
Structural Regulation
ESMA Grants LEI Reporting Relief to Non-EU Issuers Under SFTR
By Editors | 09/01/2020
ESMA has granted non-EU issuers of securities and collateral a 12-month grace period before they are required to report LEIs under SFTR.
Conduct, Culture & Accountability
ASIC Bans Ex-AMP, NAB Adviser for Four Years
By Editors | 09/01/2020
An ASIC review of advice files found a failure to make sufficient inquiries into client circumstances and existing financial products when providing advice.
Structural Regulation
BOT Directs Banks to Adopt Fairer Fee Structures
By Editors | 09/01/2020
Banks are instructed to lower the interest costs and fees loan prepayments and late repayments, and to adopt grace periods to reduce borrower burdens.
Fraud, Scams & Cybercrime
Nine Korean Banks Face Legal Action for Selling Loss-Making Funds
By Editors | 09/01/2020
Investors are reportedly preparing for a suit against banks which sold them loss-making funds from Lime Asset Management without properly disclosing the risks.
AI Risk & Governance
Technology to Drive Regulatory Agenda in 2020: Thomson Reuters
By Manesh Samtani | 09/01/2020
Technology has displaced the 2008 financial crisis as the main issue driving the international regulatory agenda, says a new report from Thomson Reuters.
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