10/14/2020
Westpac puts Australia on bad banking leaderboard
The bank was fined $2.5 billion and guaranteed the return of $1.4 billion in assets from the theft of billions of dollars from a Malaysian government fund.
Legal, Regulation & Compliance
10/14/2020
ASIC suspends the AFS licence of Ballast Financial Management Pty Ltd
Under s912B of the Corporations Act 2001, AFS licensees must have arrangements for compensating retail clients for losses they suffer as a result of the licensee or its representatives breaching their obligations in Chapter 7.
10/14/2020
FSB Publishes Letter to G20 Ahead of Virtual Meeting
This will include a holistic review of the market turmoil in March, which will inform the FSB’s future steps under the Italian G20 Presidency to improve the resiliency of the NBFI sector.
10/14/2020
S.Korea c.bank holds rates, reassures markets on policy support
The central bank said the pace of recovery had slowed due to the resurgence of COVID-19 and stuck to its forecast that the economy would see its biggest contraction in over two decades in 2020.
10/13/2020
MAS extends facility to support lending by banks and finance companies to SMEs
Since its introduction in April 2020, the Facility has disbursed a total of S$5.7 billion to eligible financial institutions in support of their lending to companies under the ESG Loan Schemes.
10/13/2020
Sri Lanka Drafts Resolution Framework for Banks, Finance Companies
The new framework will offer practical guidelines in the areas of problem identification, corrective action, resolution techniques and exit strategies.
10/13/2020
Thailand regulator studies insurers’ call to widen scope of investments, report says
The regulator is consulting with the Bank of Thailand on the request, according to Chuchatr Pramoolpol, deputy secretary general of the OIC.
10/12/2020
China's central bank to cut FX risk reserve ratio to zero
The move came after the onshore spot yuan rate ended at a 17-month high on Friday against the dollar, its biggest one-day percentage gain since 2005.
10/12/2020
RBI holds rates steady, sees economic recovery taking root
The RBI has slashed the repo rate by 115 basis points (bps) since late March to cushion the shock from the coronavirus crisis and sweeping lockdowns to check its spread.
10/12/2020
EU warned of global risks to overhauling fund rules
Hong Kong association says a Brexit-driven shutout of foreign managers would dent popularity of EU funds in Asia
10/12/2020
BNU, Bank of China sign new 10-year agreement to issue Macau banknotes
BNU has been issuing Macau patacas since 1906.
10/12/2020
Catastrophe bonds stick in the craw of ESG investors
Appeal of insurance-linked securities, mostly cat bonds, spurred by Covid-19 and Hong Kong-Singapore rivalry
10/12/2020
MAS extends low-cost funding to banks, finance companies to support SME lending
In a statement, the regulator said its latest initiative complements the six-month extension of the TBLP from April 1, 2021 to Sept 30, 2021.
10/12/2020
Allens named Private Equity Legal Adviser of Year
‘Deals have been inked during COVID-19 and there will be more to come.’
10/11/2020
Standard Chartered applies to set up securities firm in China
China's 7.26 trillion yuan ($1.1 trillion) securities industry is opening up
10/09/2020
BSP Revises Minimum Capital Requirement for Digital Banks
The BSP now plans to no longer consider a distinction between a basic or advance digital bank.
10/09/2020
RegTech Asia 2020: Addressing Complex Regulatory Change
From 2-3 September, RegTech Asia 2020 brought together industry experts in an online forum to provide a comprehensive overview of the key regulatory issues impacting Asia-Pacific and the technology solutions that offer support.
10/09/2020
Days of reliable bank dividends ‘long gone’
Westpac should generate strong profits as loan losses fall, cash rates begin to rise, and cost savings are achieved, according to Morningstar.
10/08/2020
Indonesia reforms target central bank’s hard-won independence
Critics say loss of autonomy would shake confidence in south-east Asia’s largest economy
10/08/2020
Motley Fool Closes Hong Kong Office
In its parting statement, Motley Fool also included one last piece of advice for Hong Kongers: to diversify investments outside of local and mainland Chinese equities.