Securities / Derivatives

ISDA Consults on Proposals to Clean Up CDS Market

12/03/2019

The proposals seek to end a trading practice of encouraging otherwise healthy companies to default by offering them favourable financing in order to pocket CDS payouts.

AML / KYC

SEBI’s Meets Opposition from Global Funds on KYC Requirements

12/03/2019

Global asset managers have opposed SEBI’s plan to create a centralised database of beneficial owners of foreign portfolio investors.

AML / KYC

Bank of Ayudhya Uses Facial Recognition in Account Opening

12/03/2019

Bank of Ayudhya has become the first bank in Thailand to introduce facial recognition in account opening, which it says will enhance security and prevent fraud and identity theft.

Enforcement

Australian Banks Taking Too Long to Fix ‘Fees-For-No-Service’ Failings – ASIC

12/03/2019

Delays attributed to poor record-keeping and systems, failures to implement methodologies to identify and compensate customers, and an overly legalistic approach at some institutions.

Enforcement

UBS, StanChart to Settle Hong Kong IPO Misconduct Case

12/03/2019

The case goes back to the 2009 listing of a Chinese timber company, which was later suspended for accounting irregularities. Details of the settlement will be released at a later date.

Securities / Derivatives

HKEX to Launch China A-Share Futures Contract

12/03/2019

The development represents a key risk management tool for international investors who need to manage their A-share equity exposure, says HKEX chief Charles Li.

Market Infrastructure

Banks Increasingly Focused on Conduct Risk – FSB

12/03/2019

At an FSB workshop on compensation practices, banks reported an increased focus on conduct risk, management accountability and culture reform.

Capital / Liquidity

Philippines Extends Compliance Deadline for LCR, NSFR

11/03/2019

The BSP has given subsidiary banks and quasi-banks an extra year to meet the 100% LCR and NSFR requirements.

Enforcement

SWIFT Related Fines Imposed by RBI Total $10mn Across 36 Banks

11/03/2019

The number of banks fined by the RBI for failing to integrate their core banking systems with SWIFT has now risen to 36, with fines totaling $10.16mn.