Foreign banks are prohibited from repatriating profits. LCR and NSFR requirements have been reduced to 90%. Banks are told to refrain from non-essential expenditures.
May 15, 2020Banks, insurers and asset managers are increasingly making use of non-financial metrics and better data to assess compensation policy effectiveness and align compensation with risk.
May 13, 2020The SFC has issued almost HK$1bn in penalties for IPO sponsor failures over 20 years. These proceeds have gone to the government, not investors.
May 11, 2020Under the latest revisions, Korea Development Bank may exercise its voting rights in bailed-out companies for decisions that may impact shareholder value or when restructuring is required.
May 10, 2020Private equity funds will have to undergo regular audits, adopt new valuation guidelines, conduct regular liquidity stress tests, and cap leverage at 400% of assets, among other measures.
April 27, 2020The changes include guaranteed features for basic bank accounts and the removal of overdraft and dishonour fees on basic, low fee or no fee accounts.
March 2, 2020The amendments include stock trading controls to prevent insider trading, ethical management units at listed companies, and disclosures of governance practices for managing climate risk.
February 19, 2020The FSC will impose lower penalties than what was recommended by the FSS, citing the two banks’ cooperation and their agreements to compensate clients for damages.
February 17, 2020NAB has paid over A$203mn to over 588,000 customers as compensation for non-compliant advice and fees-for-no-service misconduct.
February 12, 2020HKMA executive director Alan Au says banks generally agree with the need to foster sound bank culture and have been implementing a range of culture enhancement initiatives.
January 16, 2020