Securities / Derivatives

BSP Excludes Market-making Activities from Single Borrower Limit

29/07/2020

Debt securities acquired by banks from market-making activities will be excluded from the single borrower’s limit computation for 90 calendar days from the time of acquisition.

Enforcement

SEBI Offers One-time Settlement for 500+ Errant Brokers

29/07/2020

SEBI identified instances where trading participants were consistently making losses on stock options trading, only to reverse the losses later in the day or the next day.

Market Infrastructure

ESMA Set to Defer CSDR’s Settlement Discipline Regime

29/07/2020

The European Commission asked ESMA to consider a one-year deferral in light of operational pressures on firms and other market developments amid the Covid-19 pandemic.

Capital / Liquidity

MAS Asks Singapore-headquartered Banks to Cap Dividends

29/07/2020

Locally-headquartered banks are asked to cap fiscal 2020 dividends as a pre-emptive measure to ensure sustained lending given “significant uncertainties” ahead.

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.