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168ChinaUS Regulators Unveil Plan to Deal With Chinese Listings
Editors, Regulation Asia August 8, 2020A presidential working group which includes the chairmen of the SEC, CFTC and Fed has recommended changes to US listing rules to require access to companies' audit papers.
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224SingaporeMAS Calls on Finance Companies to Moderate Dividends
Editors, Regulation Asia August 8, 2020The dividend restriction is a pre-emptive measure to bolster the finance companies’ ability to continue to support the credit needs of businesses and consumers.
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156AML / KYCUS Sanctions 11 Chinese, Hong Kong Officials
Manesh Samtani, Regulation Asia August 8, 2020The HKMA says unilateral sanctions imposed by foreign governments have "no legal status" in Hong Kong and banks should endeavour to treat customers fairly.
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212AML / KYCSingapore Authorities Issue First Charges in Wirecard Probe
Editors, Regulation Asia August 8, 2020A director of Citadelle Corporate Services is said to have "wilfully and with intent to defraud" stated false balances held in escrow on behalf of Wirecard in 2016 and 2017.
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811Hong KongHKMA, IA Issue Guidance on Video Distribution of Insurance Products
Editors, Regulation Asia August 7, 2020Insurers and intermediaries such as banks have to apply to enter the InsurTech Sandbox to test the use of video conferencing to distribute long term insurance policies.
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1.0KChinaChina Moves Closer to Launching Sovereign Digital Currency
Sanday Chongo Kabange, Regulation Asia August 7, 2020PBOC has formed a new subsidiary to streamline efforts to launch a central bank digital currency, which is now being tested at four state-run banks.
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578ChinaChina Paves Way for Class Actions in Securities Disputes
Lucy Zhang, Regulation Asia August 7, 2020New regulations issued by China’s Supreme Court provide channels for small and medium investors to pursue joint litigation in securities disputes.
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297SingaporeCEO Faces 112 Charges of Market Rigging in Singapore
Editors, Regulation Asia August 7, 2020CEO and chairman of SGX-listed KS Energy is alleged to have engaged in conduct to push up his company's stock and create a misleading appearance of its price.
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310Capital RegulationRBI Adopts New Measures to Ease Covid-19 Financial Stress
Editors, Regulation Asia August 7, 2020A new resolution framework will allow banks to continue to maintain the ‘standard’ classification for corporate borrowers in resolution rather than downgrade the account, among other measures.
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473ChinaPBOC Authorises Bankruptcy Filing of Baoshang Bank
Editors, Regulation Asia August 7, 2020The decision was made based on “severe insolvency” found at Baoshang Bank. The last commercial bank allowed to go bankrupt in China was in 2001.
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