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Capital / Liquidity
HKMA Support Measures and the Impact to the Banking Industry
By Pierre Latrobe | 12/05/2020
Pierre Latrobe at Mazars discusses recent HKMA initiatives taken in response to Covid-19 and their implications for Hong Kong banks, highlighting credit risk as a growing threat.
Enforcement
US SEC Penalises Bloomberg Tradebook Over Order Routing
By Editors | 07/05/2020
Bloomberg Tradebook let unaffiliated brokers make decisions about the routing of certain customer trade orders in a way that lowered its own costs, without informing affected customers.
Securities / Derivatives
US SEC Green-lights Launch of New Stock Exchange, MEMX
By Editors | 07/05/2020
Backed by some of Wall Street’s largest financial institutions, MEMX says it will offer a less expensive exchange model; fewer, less complex order types; and a basic market data feed.
Securities / Derivatives
Sri Lanka to Implement New Stock Market Circuit Breaker
By Editors | 05/05/2020
Sri Lanka’s SEC has directed the Colombo Stock Exchange to implement the new circuit breaker structure when the market reopens after its closure on 20 March.
AML / KYC
US Prosecutors Target Foreign Bank Records in North Korean Cyber Hunt
By Nick Turner | 05/05/2020
US authorities may be signalling their intent to increasingly use the PATRIOT Act to gain access to foreign bank records in DPRK sanctions investigations, says Nick Turner at Steptoe & Johnson.
Securities / Derivatives
CSRC Eases Market Cap Requirement for CDR Issuance
By Editors | 04/05/2020
Innovative Chinese companies listed overseas will be eligible to list depositary receipts at home with just $2.8bn in market cap, compared to $28bn under 2018 rules.
Securities / Derivatives
Chinese Companies Rush to Delist From US Stock Market
By FinanceAsia | 01/05/2020
After decades of chasing the prestige of a US listing, Chinese companies can’t go private fast enough – here’s why.
Enforcement
CSRC Vows Cross-border Cooperation in Luckin Fraud Case
By Editors | 28/04/2020
The CSRC has been communicating with US regulators, looking to deepen cross-border cooperation to combat misconduct and fraud and to protect investors.
Enforcement
China: Luckin Investors Launch Lawsuit Under New Securities Law
By Editors | 26/04/2020
A lack of cross-border regulation presents a challenge to holding Luckin Coffee entities and executives to account for alleged misconduct and fraud.
Capital / Liquidity
HKMA Introduces USD Facility, Postpones Supervisory Stress Tests
By Manesh Samtani | 22/04/2020
$10bn will be available to banks under the USD liquidity facility. The stress tests are being postponed to 2021 to free up banks’ operational capacity.
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