Market Infrastructure

Chinese Regulators to Combine QFII, RQFII from 1 November

27/09/2020

The move to combine the QFII and RQFII into a single ‘qualified foreign investor’ regime is aimed at further easing foreign access to China’s capital markets.

Market Infrastructure

FTSE Russell to Include Chinese Govt Bonds in Global Index

27/09/2020

FTSE Russell cites significant market infrastructure improvements to expand access to international investors, improve liquidity, and develop settlement and custody processes.

Securities / Derivatives

EU Sets Out Action Plan to Achieve Capital Markets Union

27/09/2020

The Action Plan seeks to make financing more accessible to European companies and integrate national capital markets into a genuine single market.

Market Infrastructure

FSB Confirms Governance Body for OTC Derivatives Identifiers

27/09/2020

The Regulatory Oversight Committee of the Global LEI System will be the International Governance Body for the UTI, UPI and CDE as of 1 October.

BSP to Impose 24pc Ceiling on Credit Card Interest

27/09/2020

Effective from 3 November, credit card issuers can charge a maximum 2% per month on unpaid outstanding credit card balances.

Enforcement

Former Citic Bank Exec Sentenced to 15 Years’ Jail for Bribery

26/09/2020

The conviction is said to be linked to a criminal case involving the head of a Citic Group asset management subsidiary.

Bangladesh Bank Orders Banks to Cap Credit Card Interest

26/09/2020

Banks are charging customers between 25 and 27 percent in interest on credit card debt, in violation of regulations, Bangladesh Bank said.

Enforcement

SEBI Quadruples Penalties Against CRAs Over IL&FS Failures

26/09/2020

In December, SEBI issued INR 2.5 million penalty orders against ICRA, India Ratings & Research and Care Ratings. This has been raised to INR 10 million.

Thailand: BOT to Revamp Banks’ Reporting Requirements

26/09/2020

The reforms will reduce data processing steps for financial institutions and the costs associated with reporting, while increasing reporting efficiency.