Market Infrastructure

Bloomberg Begins Publishing IBOR Fallback Rates for Derivatives

21/07/2020

The calculations being published include the adjusted RFRs, the spread adjustment and the ‘all in’ IBOR fallback rates for certain key IBORs across various tenors.

Securities / Derivatives

CSRC Updates Rules for Managing Margin Deposits for Futures

21/07/2020

The revisions strengthen the obligations of depository banks and futures companies in managing margin deposits for futures trading, and clarify that the same rules apply for overseas participants.

Enforcement

NAFMII Penalises Bank of Beijing with Underwriting Suspension

20/07/2020

NAFMII says Bank of Beijing failed to perform due diligence and adequately monitor five bond issuances for Kangde Xin Composite Material Group, all of which defaulted in recent years.

Enforcement

Korea FSS Formally Launches Probe Into Private Funds Industry

20/07/2020

Any misconduct detected during the probe will be referred to prosecutors and follow-up efforts will be made to protect investors. The probe is expected to continue until 2023.

Market Infrastructure

Australia Extends Coronavirus SME Guarantee Scheme

20/07/2020

With the extension, the government is expanding the allowed purpose of the loans, increasing the maximum loan size and duration, and allowing secured lending and repayment holidays.

Fintech / Regtech

FSC Korea Revises Guidelines for P2P Lending Firms

20/07/2020

The key changes will strengthen disclosure rules, prohibit unfair sales activities, restrict sales of high-risk investment products, and impose limits on loans and investments.

Securities / Derivatives

CFTC Grants Certification to 23 HKFE Index Futures Contracts

20/07/2020

The 23 contracts can be offered and sold to US persons, and are among the new products being introduced as part of a ten-year licensing agreement with MSCI.

Capital / Liquidity

Beyond FRTB: Risk Management and Enterprise Data Opportunities

20/07/2020

FRTB is a significant global industry challenge, but the process to achieve its outcomes can harness value from data that can be applied throughout a bank’s operations.

Enforcement

Court Finds ex-HKMEx Head Guilty of Conspiracy to Defraud SFC

20/07/2020

The former head and CFO of now-defunct Hong Kong Mercantile Exchange conspired to hide the exchange’s true financial position and mislead the SFC into allowing it to retain its licence.