Securities / Derivatives

Tokyo Commodity Exchange Proposes Trading Rule Revisions

29/07/2020

TOCOM plans to revise its trading rules to coincide with the launch of a next-gen derivatives trading system known at J-GATE 3.0 in Q3 2021.

Capital / Liquidity

APRA Moderates Approach to Bank Dividends in New Guidance

29/07/2020

Banks should retain at least half of their earnings when making capital distribution decisions, which should be informed by regular stress testing to demonstrate ongoing lending capacity.

Market Infrastructure

ISDA Launches New Indicator to Monitor RFR Adoption in Derivatives

28/07/2020

The indicator is intended to help derivatives market participants keep tabs on progress to shift to risk-free rates ahead of the end of 2021, when LIBOR is due to be discontinued.

AML / KYC

MAS Revokes Capital Markets Licence for AML Breaches

28/07/2020

Apical Asset Management lacked basic AML/CFT controls despite complex ownership structures used by some of its clients. Its two directors were reprimanded.

AML / KYC

Court Convicts Former Malaysian PM in 1MDB-linked Corruption Trial

28/07/2020

Najib Razak was found guilty of three counts of criminal breach of trust, three counts of money laundering and one count of abuse of power.

AML / KYC

Westpac Issues Update on Threshold Transaction Reporting Issues

28/07/2020

Westpac says it failed to report about 175,000 transactions to AUSTRAC as required, and may have filed 365,000 TTRs incorrectly.

AML / KYC

HSBC Launches 24/7 Digital Account Opening in Malaysia

28/07/2020

The new account opening service is aimed at minimising physical contact in compliance with new social distancing norms due to the Covid-19 pandemic.

Securities / Derivatives

JPX Completes Transfer of TOCOM Products to Osaka Exchange

28/07/2020

Under the new integrated exchange, brokers need a single licence to trade both securities and commodities. Clearing houses JSCC and JCCH have also been integrated.

Big Picture

FMSB Examines Remote Working Risks in FICC Markets

28/07/2020

FMSB has published a Spotlight Review on the risks of undertaking financial services activities through new working arrangements, and measures to mitigate these risks.