Emerging Prudential Risks

ISDA Launches IBOR Fallbacks Supplement, Protocol

25/10/2020

The implementation of fallbacks for derivatives will help to mitigate the systemic risk that could occur following the disappearance of LIBOR.

Trading & Investment

ASIC Intervenes to Restrict CFD Leverage, Curb Retail Losses

25/10/2020

In a new product intervention order targetting contracts for difference, ASIC has imposed leverage limits and standardised margin close-out arrangements.

Sustainable Finance

Thailand Launches Information Platform for Sustainability Bonds

25/10/2020

The information platform is based on the Luxembourg Green Exchange, and follows the SEC’s engagement with the Luxembourg bourse earlier this year.

Structural Regulation

FMA to Recognise Australian Financial Advice Qualifications

25/10/2020

In addition to holding Australian qualifications, the FMA proposes that Australian advisers will need to have at least 12 months’ experience working in Australia.

Trading & Investment

HKEX, SZSE Launch New ETF Cross-listing Scheme

25/10/2020

HKEX and SZSE have also signed an MOU to promote the ETF Cross-listing Scheme and facilitate more connections between the two markets.

Trading & Investment

China: S&P Global Authorised to Rate Exchange-traded Bonds

25/10/2020

S&P Global’s China unit can rate bonds and asset-backed securities that are traded or listed for transfer on China’s exchange-traded bond market.

Trading & Investment

HKEX Proposes to Allow Holiday Trading of MSCI Derivatives

25/10/2020

Exchange participants are asked to indicate their expectations for operational readiness by completing an online form by 6 November.

Supervision & Enforcement

Super Licensees Must Observe Controlling Stake Requirements: APRA

23/10/2020

Regulatory approval is required before a change in a superannuation licensee’s ownership occurs. Noncompliance may attract “severe penalties”.

Anti-Money Laundering

MAS Bans Former BSI Banker Over 1MDB ‘Secret Profits’

23/10/2020

The former banker received about $5mn in fund management fees in an entity he beneficially owned, at the expense of and without the knowledge of BSI Bank.