Trading & Investment

UBS Becomes First Foreign Firm to Sponsor STAR Market IPO

30/10/2019

China-based UBS Securities, now majority-controlled by UBS Group AG, was the sole underwriter for the IPO, which is also now the first STAR Market stock dually-listed in Hong Kong.

Trading & Investment

China Commodity Exchanges to Stop Double-counting Trade Volumes

30/10/2019

The SHFE, DCE and ZCE will all move to reporting on a single-count basis from 1 January 2020, in a bid to converge with international standards.

Trading & Investment

ASIC Extends Deadline for Super Fund Portfolio Disclosures

30/10/2019

The first reporting day for portfolio holdings disclosure was set for 31 December this year, but the regulations which set out how this disclosure is to be organised have not yet been made.

Structural Regulation

BOJ Calls for Applications from Aspiring Benchmark Administrators

30/10/2019

The BOJ committee is soliciting entities that can begin calculating and publishing term structures based on JPY overnight index swaps as prototype rates.

Anti-Money Laundering

FATF Begins Assessment of Japan’s AML Regime

30/10/2019

For the first time, cryptocurrency exchanges will also subject to the review, the first assessment of Japan’s AML system in 11 years.

Payments & Settlements

NPP Australia Unveils Roadmap for New Payments Capabilities

30/10/2019

The roadmap includes the development of new structured data capabilities, third party payment initiation, and the ability to link regular payments to a mobile number.

Structural Regulation

Philippines Mulls Imposing Limits on Lending Rates, Fees

30/10/2019

The BSP is considering placing limits on the interest rates and other fees lenders and finance companies can charge borrowers in response to a request from the SEC.

Structural Regulation

HKMA Stresses Consumer Protection Ahead of Open Banking Phase II

30/10/2019

The HKMA outlines its expectations for the consumer protection practices financial institutions should adopt for Open API Phase II and beyond.

KYC & CDD

LEI Use in Onboarding Could Save Banks Up to $4bn Annually

30/10/2019

In addition to cost savings, LEI use in client onboarding would speed up time to revenue, improve compliance and credit risk mitigation, and enable better tracking of suspicious entities.