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Conduct, Culture & Accountability
SEBI Fines Credit Rating Agencies Over IL&FS Failures
By Editors | 30/12/2019
Three rating agencies were fined for failing to recognise and quickly respond to deteriorating financial conditions at IL&FS, whose defaults last September triggered a liquidity crisis.
Structural Regulation
CBIRC Issues Revised Regulations for Foreign Banks in China
By Editors | 30/12/2019
The revised regulations implement the removal of foreign ownership limits and asset thresholds for setting up local units, among other relaxations.
Capital Adequacy
HKMA D-SIBs List Unchanged, HLA Requirement Adjusted for Two Banks
By Editors | 28/12/2019
Compared with the December 2018 list, the HLA requirement has increased for Standard Chartered and decreased for Hang Seng Bank.
Emerging Prudential Risks
Korea FSC Sets Out Financial Policies Tasks for 2020
By Editors | 28/12/2019
The FSC will expand funding for innovative companies and key industries, strengthen financial consumer protections, tighten mortgage lending rules, and facilitate debt restructuring.
Anti-Bribery & Corruption
CBIRC Inner Mongolia Official Under Corruption Probe
By Editors | 28/12/2019
The case reportedly relates to the official’s supervision of Baoshang Bank which was taken over by regulators in May due to “serious credit risks”.
Credit Risk
China to Improve Mechanisms for Handling Bond Defaults
By Editors | 28/12/2019
Proposals include mechanisms for early detection and investigation of bond disputes, higher penalties for repayment failures, and lower costs for investors exercising litigation rights.
Capital Adequacy
Philippine Bourse Seeks Higher Capital Requirements for Brokers
By Editors | 26/12/2019
In the aftermath of a 700-million-peso stock theft, PSE president Ramon Monzon will reportedly propose to more than triple current capital requirements for older firms.
Liquidity Risk
RBI Allows IFSC Banks to Open Foreign Currency Current Accounts
By Editors | 26/12/2019
IFSC Banking Units will be allowed to open foreign currency current accounts for entities operating in Gift City, including non-resident institutional investors and corporate borrowers.
Anti-Money Laundering
Taiwan FSC Outlines Bank Examination Priorities for 2020
By Editors | 26/12/2019
The FSC’s Financial Examination Bureau will reportedly focus on compliance with rules on AML, corporate governance, information security, consumer protection and personal data protection.
Credit Risk
ASIC Launches Court Proceedings Against Volkswagen Financial Services
By Editors | 24/12/2019
ASIC says Volkswagen contravened the responsible lending provisions of the National Credit Act in relation to 49,380 loan contracts.
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