Credit Risk

UPDATED – RBI Bans EY Member Firm from Auditing Banks

05/06/2019

Reports indicate the RBI had found large discrepancies in bad debt reported by banks for the 2015-2016 period, particularly in the cases of Axis Bank and YES Bank.

Market Abuse

MAS Penalises Singapore National in LSE Insider Trading Case

05/06/2019

The penalty was the result of close cooperation and information sharing between MAS and the UK FCA, which had referred the case and provided investigative assistance.

Clearing & Post-Trade

BSE India, ICCL Implement CCP Interoperability Framework

04/06/2019

BSE India and its subsidiary ICCL have gone live with the clearing corporation interoperability framework, despite a one month extension being announced.

Credit Risk

‘Loan Inconsistencies’ Prompt EY Resignation as Chinese Bank Auditor

04/06/2019

The resignation of EY as the auditor of Bank of Jinzhou comes as questions are being raised about the health of China’s small and mid-size lenders.

Credit Risk

RBI Amends Large Exposures Framework for Banks

04/06/2019

The modified framework excludes all entities connected with the sovereign from definition of group of connected counterparties, such as exposures to or guaranteed by government.

Conduct, Culture & Accountability

HK FRC Concludes Consultation on Auditor Misconduct Penalties

04/06/2019

The FRC will be empowered to order penalties of up to HK$10mn or three times the profit gained or loss avoided as a result of misconduct, whichever is higher.

Clearing & Post-Trade

Bursa Malaysia Central Depository to Expand Electronic Services

03/06/2019

Bursa Malaysia is proposing rule amendments to facilitate the introduction of new CDS eServices via ‘Bursa Anywhere’ – a new electronic platform.

Payments & Settlements

Japan, Philippines Explore Yen-Peso Direct Trading

03/06/2019

Japan and the Philippines will explore the establishment of direct yen-peso settlement for trade and investment between the two countries.

Conduct, Culture & Accountability

Macquarie Securities Penalised for Submitting Incorrect Regulatory Data

03/06/2019

Over 4 years, approximately 42 million orders containing incorrect or omitted regulatory data were submitted to ASX and Chi-X.