Securities / Derivatives

China Allows Foreign Ownership Majority at Securities Firms

02/05/2018

Ceiling on foreign ownership raised from 49% to 51%, effective immediately; CSRC reviewing first application from UBS to boost stake in China-based UBS Securities.

AML / KYC

Hong Kong Publishes First AML/CTF Risk Assessment

02/05/2018

Hong Kong exposed to medium-high level of money laundering risk; ability to combat money laundering also assessed as medium-high.

Crypto / Digital Assets

ASX to Replace Post Trade Infrastructure with DLT Solution

01/05/2018

New DLT system to provide more efficient clearing, settlement and other post-trade services through improved record keeping, reduced reconciliation, more timely transactions, better quality data.

Market Infrastructure

Thailand Targets Bank Mergers to Boost Regional Competitiveness

28/04/2018

BOT supports incentives for merged banks including extra deductions for corporate income tax and waivers from other tax obligations.

Australia, HK Suffer Lack of Trust in Financial Services – Report

27/04/2018

CFA Institute survey finds as little as 31% of investors in Australia and 35% in Hong Kong trust the financial services industry.

Capital / Liquidity

Bank of Thailand Expands Debt Clinic Scheme for Troubled Borrowers

27/04/2018

‘Debt Clinic’ programme to pooling unsecured bad loans under Sukhumvit Asset Management will expand to an additional 50,000 borrowers.

AML / KYC

ACAMS 2018: HKMA Calls on Financial Industry in Fight Against Crime

26/04/2018

Deputy chief Arthur Yuen highlighted technological innovation, increased information sharing and the application of a risk-based approach as the key issues to implementing effective AML systems.

Securities / Derivatives

China Launches Pilot to Enable Trading of Restricted H-Shares

24/04/2018

Founding and controller shareholders of HK-listed Chinese companies will be able to convert non-tradable stock into ordinary H-shares, starting with Legend Holdings.

Enforcement

Australia Toughens Criminal, Civil Penalties for Misconduct

22/04/2018

Criminal offences can result in 10 years imprisonment or $725,000 for individuals; or the larger of $7.25 million, 3 times the benefits, or 10% of annual turnover for companies.