Market Abuse

Westpac Insider Trading Case May Not Be Heard Until 2023

01/08/2021

A proposed February 2022 trial date will not be feasible as Westpac will have to be allowed sufficient time to review expert evidence.

Liquidity Risk

PBOC Caps Short-term Debt Financing by Securities Firms

01/08/2021

The outstanding balance of short-term financing instruments issued by securities companies shall not exceed 60 percent of net capital.

Alternative Markets

DBS, Temasek to Launch Debt Financing Platform, EvolutionX

01/08/2021

The new platform will help founder entrepreneurs avoid dilution of share equity in their companies’ initial stages of development.

Structural Regulation

CBIRC Grants Approval to Allianz Insurance Asset Management

01/08/2021

The approval will make Allianz China IMAC the first fully foreign-owned insurance asset management company on the Chinese mainland.

Credit Risk

APRA to Formalise Regulatory Support for Covid Loans

01/08/2021

APRA intends to formalise regulatory support measures for banks offering Covid-19 loans through a temporary amendment to APS 220.

Custody & Infrastructure

CSRC Grants Citigroup Approval to Launch Custody Business

01/08/2021

The licence allows Citi to provide custody services for fund products issued by fund firms or other asset managers in China.

Anti-Bribery & Corruption

China: Another Ex-Banking Regulator Under Corruption Probe

01/08/2021

Cai Esheng served as CBRC vice chairman for eight years. He was in charge of supervising non-bank financial institutions.

Anti-Money Laundering

AUSTRAC Consults on AML/CTF Rule Amendments

31/07/2021

The amendments allow FIs to carry out ACIP on a customer after an account is opened, provided the initial deposit is the only transaction made at opening.

Trading & Investment

ARRC Formally Recommends CME Group SOFR Term Rates

31/07/2021

Forward-looking term rates are needed for syndicated and bilateral corporate loans, as well as in the CLO and leveraged loans markets.