Markets & Infrastructure

Supervision & Enforcement

Senate Passes Bill Empowering ASIC to Pursue Harsher Penalties

By Editors | 15/02/2019

The bill increases the maximum prison penalties ASIC can pursue to 15 years, and raises the caps on civil penalties for individuals and corporations.

Trading & Investment

CSRC Seeks to Control Speculation on Shanghai’s New Tech Board

By Editors | 15/02/2019

Amid concerns of volatility when the new board launches, Chinese regulators reportedly convened a meeting with industry participants seeking views on measures to control market hype.

Cloud & Infrastructure

BigTechs, Outsourced Services Pose Financial System Risk – FSB

By Manesh Samtani | 14/02/2019

The FSB warns that BigTechs can achieve scale in finance very quickly, raising competitive pressures on incumbents. Rising dependencies on third-party services also present risks.

Data Privacy

Data Privacy, Cybersecurity, Conduct in Focus in APAC

By Manesh Samtani | 14/02/2019

Data privacy, conduct & culture, cybersecurity and AML will be in focus in APAC for the next three years, according to a new report from Fenergo.

Structural Regulation

SFTR: What Asian Financial Firms Need to Know

By Oliver Williams | 14/02/2019

Firms in Asia need to start preparing for the impacts SFTR will have on the way they manage their information flow when working with European counterparties, says DTCC’s Oliver Williams.

Conduct, Culture & Accountability

ASIC Consults on Updates to Responsible Lending Guidance

By Editors | 14/02/2019

ASIC’s existing guidance allows a tailored approach to applying responsible lending obligations, but licensees may be applying them where the law does not require it.

Supervision & Enforcement

US SEC Charges Deloitte Japan for Auditor Independence Violations

By Editors | 14/02/2019

Deloitte Japan agreed to pay $2mn to settle charges related to audit reports it issued while dozens of its employees maintained financial relationships with the audit client.

Trading & Investment

China Eases Rules for Expat Stock Incentive Programmes

By Editors | 14/02/2019

New rules from SAFE will allow foreign employees of China-listed companies to invest domestically using funds remitted into the country from overseas.

Structural Regulation

Taiwan FSC Sets Up Panel to Review Internet-only Bank Applications

By Editors | 14/02/2019

The new panel will assess formal applications for internet-only bank licences. Chunghwa Telecom, Waterland Financial and Line Financial are each seeking licences.