Regulation Asia - Financial Regulation News Analysis

Time 2020-12-22 01:04:40

Web Name: Regulation Asia - Financial Regulation News Analysis

WebSite: http://www.regulationasia.com

ID:142046

Keywords:

Asia,Regulation,Financial,

Description:

1 Australia NZ ASIC Probes Market Participants for Possible Best Execution Failures December 22, 2020 ASIC is concerned Chi-X as an alternative venue did not see more trading activity during ASX's November outage, as would be expected given participants' best execution duty to clients. 111 Feature Hong Kong Bourse to Introduce Paperless IPO Regime in July December 21, 2020 From 5 July 2021, listing documents must be published solely in an electronic format, and new subscriptions must be made through online channels only. 229 Feature MAS Consults on Proposed Notices for Outsourced Services December 21, 2020 Banks' outsourcing agreements must include terms that grant MAS the right to audit the outsourced arrangement and obtain information from the service provider. 157 Feature BCBS, CPMI Warn of Continued Risks Associated with FX Settlement December 20, 2020 Expanding the availability of PvP settlement to a wider range of transactions and actors will reduce FX settlement risk and support global financial stability. Paris Anniversary Marked by New Finance Initiative ESG Investor December 15, 2020 Improving Operational Resilience: A Priority for the Year Ahead David LaFalce, DTCC December 15, 2020 Data Storage Rules: A Christmas Present From the SFC Derek McGibney, Cognitive GRC Limited December 11, 2020 60 Big Picture Fast Growing NBFI Sector Presents Financial Stability Risk: FSB December 17, 2020 NBFI that poses financial stability risk grew by 11.1% in 2019, at a faster pace than the average 7.1% annual growth rate from 2013-18. 272 AML / KYC APAC Overtook US in AML Penalties For 2020: Fenergo December 11, 2020 APAC has overtaken the US in terms of the value of enforcement actions for the first time since 2015, largely due to the Goldman and Westpac cases. 159 Big Picture Big Banks Were Progressing on Basel III Agenda Prior to Covid December 11, 2020 Under full phase-in of the final Basel III standards, the capital shortfalls at Group 1 banks were €10.7bn based on end-December 2019 data, compared with €16.6bn at end-June 2019. 1 Enforcement US SEC Penalises Robinhood $65m for Misleading Customers December 22, 2020 The SEC said Robinhood misled customers into believing trading was commission free, while it executed customers’ orders at inferior trade prices costing them $34mn. 123 Enforcement Taiwan Addresses Bank Misconduct With Higher Penalties: Fitch December 18, 2020 Banks are expected to work to strengthen their risk controls, particularly around wealth management to avoid penalties and preserve their corporate governance rankings. 104 China US SEC Settles Luckin Coffee Fraud Charges for $180m December 18, 2020 Luckin materially misstated its revenue, expenses, and net operating loss to falsely appear to achieve rapid growth and increased profitability, the SEC said. 41 China CSRC Suspends Credit Rating Agency, Orders Improvements December 17, 2020 The rating agency has been asked to carry out a comprehensive rectification programme, strengthen internal controls, and improve the quality of its ratings. 72 Australia NZ ASIC Sues Three Firms For Illicitly Offering FX Margin Trading December 16, 2020 ASIC alleges Union Standard provided trading in margin FX products to clients in China in circumstances where it was illegal for Chinese residents to deal or trade in those products. 149 Australia NZ APRA Lowers Allianz Capital Charge to Reflect Better Risk Governance December 11, 2020 In recognition of progress to address risk governance issues, APRA has reduced Allianz's additional capital requirement from A$250mn to A$150mn. 54 AML / KYC Taiwan to Lower Payment Thresholds for Customer Notification December 21, 2020 The move is aimed at combatting rising financial fraud as consumers increasingly prefer e-payments over the use of credit cards. 94 Australia NZ APRA Sets September Go-Live for New Data Collection Solution December 21, 2020 The timing of regulatory data reporting commencing in APRA Connect will vary by industry. Existing data collections for banks will continue through D2A for the time being. 185 Feature HKMA Outlines Regtech Use Cases for Pandemic Environment December 18, 2020 In its fifth issue of 'Regtech Watch', the HKMA outlines four potential regtech use cases relevant to the pandemic environment. 201 AML / KYC Korea s FIU Upgrades AML System to Boost Processing Capacity December 18, 2020 The upgraded AML system has increased KoFIU's processing capacity by about five times, helping it address an increasing number of suspicious transaction reports it receives. 176 Feature Taiwan FSC Cautions New Digital Banks Against Price Wars December 17, 2020 Taiwan's new digital-only banks should offer innovative products and services instead of resorting to pricing competitions to attract clients, says FSC Chairman Thomas Huang.

TAGS:Asia Regulation Financial 

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