12/08/2020
APRA Urges Smaller Banks to Identify Possible Merger Partners
“This process should not be a compliance exercise, rather it is part of good corporate governance for every entity to have a well thought out plan for managing stress.”
Legal, Regulation & Compliance
12/08/2020
ASIC extends relief from portfolio holdings disclosure
Depending on when regulations are made, ASIC may shorten the period of the relief by a further legislative instrument.
12/08/2020
SFC issues quarterly report
The SFC also began a consultation on proposals to amend the anti-money laundering and counter-financing of terrorism guidelines to align with international standards and provide guidance for applying these measures in a more risk-sensitive manner.
12/08/2020
APRA seeks to enhance flexibility and resilience of ADI capital framework
Given the Australian banking sector is well-capitalised, the proposed changes are not expected to require ADIs to raise additional capital.
12/08/2020
China's $13tn shadow banking sector gets clearer definition
Top bank regulator lists criteria for determining threats to financial system
12/08/2020
Investment bankers head to Federal Court
The magistrate, Jennifer Atkinson, did so on Tuesday, and the Federal Court proceedings are due to kick off before Justice Michael Wigney next Tuesday.
12/08/2020
Appleby Advises Yue Kan Holding Limited on its HKD125.1 Million Listing on the Main Board of the Hong Kong Stock Exchange
Yue Kan intends to apply the net proceeds from the Share Offer to expand its fleet of vessels and site equipment and recruit additional staff to operate these vessels and equipment.
12/08/2020
Goldman Sachs shifts to full ownership of China securities joint venture
Goldman has previously indicated it would double its headcount in China to 600 people by 2025 as part of its expansion plans.
12/08/2020
Pictet AM readies new bond fund
The Geneva-based asset manager plans to launch a Hong-Kong domiciled Asia fixed income product.
12/08/2020
Singapore and China expand financial cooperation to support post-COVID-19 recovery
These measures will build on existing areas of collaboration and facilitate financing and investment activities in support of a post-COVID-19 recovery in Singapore and China.
12/07/2020
Regulator fines Bank of China over loss-making product linked to crude oil
The bank is considering compensating investors up to a fifth of original investments in the products and shouldering all losses in negative territory, sources told Reuters in May.
12/07/2020
Digital Infrastructure to Enable More Effective Financial Planning by Singaporeans
The Ministry of Manpower and GovTech have developed a digital financial planning service, MyMoneySense, that makes use of SGFinDex to provide Singaporeans with an overview of their finances.
12/07/2020
IOSCO Consults on Fair and Equitable Access Market Data
The consultation report describes the concerns related to market data access, costs and fairness, asking for industry views on the issues and how regulators should respond.
12/07/2020
SFC Proposes to Introduce HK Investor ID Regime in 2022
Under the proposed investor identification regime, expected to be implemented in Q1 of 2022 at the earliest
12/07/2020
PBOC, CBIRC Finalise D-SIBs Assessment Framework
ICBC, Agricultural Bank of China, Bank of China, and China Construction Bank will automatically be included in the D-SIBs list, as they are already classified as G-SIBs using the BCBS (Basel Committee on Banking Supervision) assessment methodology.
12/07/2020
StanChart Explores Second Digital-Only Bank
This will give us the option to explore an additional banking license.
12/07/2020
MAS Awards Licences to Four Digital Bank Applicants
The licences were awarded to the Grab-Singtel consortium, a Sea Limited subsidiary, an Ant Group entity, and a consortium formed by a Chinese property giant.
12/07/2020
CBA granted banking licence for Dutch subsidiary
Commonwealth Bank of Australia is a step closer to providing better access to European markets for its institutional clients post-Brexit.
12/04/2020
Hong Kong to Introduce Corporate Rescue Regime Next Year
The proposed corporate rescue procedure will allow the appointment of a provisional supervisor to act as a distressed company’s agent while it is continuing to act as a going concern.
12/04/2020
Mudasir Mohammed Naseeruddin arrested and charged with dishonest conduct
ASIC also alleges that Mr Naseeruddin misused his position as a director of Secure Investments for his own benefit by using funds invested with the company to purchase shares for himself in a security company.