Trading & Investment

ISDA Urges Adherence to IBOR Fallbacks Protocol

17/01/2021

Over 5,900 entities in 70 jurisdictions have adhered to the protocol, which is intended as a safety net to mitigate the systemic impact of an IBOR cessation.

Structural Regulation

New Zealand FMA Consults on Wholesale Investors Exclusion

17/01/2021

The notice under review exempted offerors of certain financial products from having to provide normal disclosures to investors whose minimum investment is NZ$750,000 or more.

Reporting & Disclosures

SET Announces Three Year Plan to Bolster Capital Market

17/01/2021

The SET will increase fundraising opportunities for local and foreign firms, promote ESG reporting, and add more products with international exposure.

Supervision & Enforcement

CBIRC Sets Out New Rating System for Consumer Credit Sector

17/01/2021

Consumer finance firms with the lowest ratings will be ordered to submit to a merger, acquisition, reorganisation, or to withdraw from the market.

Credit Risk

PBOC Removes Limits on Credit Card Rates – Report

17/01/2021

The new policy is expected to benefit smaller card issuers and encourage competition from internet platforms and tech giants.

KYC & CDD

SEBI Proposes New Process for KYC in Securities Market

17/01/2021

Under the proposal, KYC Registration Agencies, stock exchanges and depositories would be responsible for client KYC processes.

Data Privacy

30 Firms Reprimanded Over Data Privacy Violations in Guangdong

16/01/2021

The Guangdong Communications Administration ordered 30 firms including banks and securities firms to fix the breaches and revamp their mobile phone apps.

Reporting & Disclosures

Korea to Require ESG Disclosures from Listed Companies

15/01/2021

Large companies will have to disclose ESG information from 2025. This will expand to all KOSPI-listed companies from 2030.

Clearing & Post-Trade

Calls to Recalibrate CCP Margin Models Are Misplaced: WFE

14/01/2021

The procyclicality of initial margin models is a property of the system as a whole and so requires system-wide solutions, the WFE says in a new paper.