Securities / Derivatives

ASX Concludes Consultation on CHESS Replacement Timeline

05/08/2020

A four-week consultation on a new timeline for the CHESS replacement project has found that 91% of users can be ready by April 2022.

Securities / Derivatives

SEBI Postpones Penalties Under New Upfront Margin Collection Norms

05/08/2020

SEBI said the penalty provision for short-collection or non-collection of upfront margin in the cash segment will now be implemented from 1 September.

Securities / Derivatives

SSE, SZSE Issue Rules on the Exchange of Corporate Bonds

05/08/2020

The rules require companies that issue replacement bonds to exchange for maturing debt to make exchange offers to all bondholders on an “equal and voluntary basis”.

Market Infrastructure

MAS Announces New Initiatives to Support SORA Adoption

05/08/2020

The initiatives aim to catalyse greater activity in SORA markets, safeguard the benchmark’s integrity and enhance market confidence in SORA.

Enforcement

CBA Increases Remediation Provisions Ahead of Full-Year Results

05/08/2020

Customer remediation provisions have been increased by A$300mn, bringing CBA’s total remediation bill to A$834. The full-year results are due on 12 August.

Market Infrastructure

HKMA Defers Trade Facility Repayments by a Further 90 Days

05/08/2020

Banks have agreed to allow corporate customers who still face cash-flow pressures to further extend their trade facilities for a further 90 days, on top of the 90 days granted from May.

Fintech / Regtech

UOB Launches Training Programme to Address Transformation in Finance

05/08/2020

The UOB Finance Academy will allow participants to deepen their knowledge in areas such as risk management, regulation, liquidity management and data analytics.

Securities / Derivatives

SGX to Launch Asia’s First International REIT Futures

05/08/2020

Two new REIT futures contracts will launch on 24 August, both designed in accordance with CFTC guidelines to allow for distribution to US and global institutional investors.

AML / KYC

Interpol Reveals ‘Alarming Rate’ of Cyberattacks During Covid-19

04/08/2020

Interpol warns that a further increase in cybercrime is highly likely in the near future, citing vulnerabilities related to working from home.