Securities / Derivatives

Singapore: ACRA Proposes Amendments to Companies Act

22/07/2020

An ACRA working group recommends reforms to facilitate digitalisation, review financial reporting requirements, and safeguard shareholders’ interests, among other proposals.

Securities / Derivatives

SEBI to Phase In Stricter Stock Trading Margin Norms From December

22/07/2020

The new rules are expected to severely impact intra-day stock trading, which accounts for about 90% of the market volumes in India.

Capital / Liquidity

BSP Cuts Reserve Requirements for Smaller Banks

21/07/2020

The move to lower the reserve requirement ratio for thrift, rural and cooperative banks will release an estimated $200mn into the economy.

Securities / Derivatives

SGX, Nasdaq Agree to Streamline Dual Listing Process

21/07/2020

Under the agreement, information previously filed with the US SEC or Nasdaq can be used to fulfil documentary requirements for a dual listing in Singapore.

Securities / Derivatives

Malaysia Introduces Enhanced IPO Framework for Main Market

21/07/2020

The new framework will introduce a mandatory holistic consultation process, a longer exposure period for the draft prospectus, and a more liberal principal adviser regime.

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.