Market Infrastructure

IOSCO Offers Guidance to Promote Deference Between Regulators

28/06/2020

IOSCO offers 11 good practices to help regulators establish and operate efficient deference processes, and mitigate the risk of market fragmentation.

Securities / Derivatives

SEBI Issues Operational Framework for Trading Distressed Debt

28/06/2020

From 1 July, the new operational framework will lift restrictions that have to date prevented trading in debt securities that have defaulted on redemption.

Securities / Derivatives

S. Korea to Impose Capital Gains Tax on All Financial Products

28/06/2020

The new framework will see a 20% capital gains tax imposed on retail investor profits over 20mn won, and 25% on profits over 300mn won.

Securities / Derivatives

Malaysia, Thailand Extend Short Selling Restrictions

28/06/2020

Malaysia will extend its short-selling ban until year-end; Thailand will continue using the uptick rule until end-September; Korea’s short-selling ban is due to expire in mid-September.

Capital / Liquidity

China: Regional Lenders Continue to Hide Bad Loans

28/06/2020

In its latest audit report, China’s National Audit Office found bad loan ratios to be nearly twice what some regional banks reported, among other violations.

Fintech / Regtech

Covid-19 Delays Launch of Taiwan Digital Banks: FSC

28/06/2020

Despite the delays, operations are still likely to commence by year-end at the three new digital banks – Line Bank, Next Bank, and Rakuten Bank.

Securities / Derivatives

JSDA Takes Steps to Increase Bond Market Transparency – Report

27/06/2020

New corporate bond offerings often go partially unsold without the knowledge of issuers. JSDA is reportedly considering requiring underwriters to disclose investor information to issuers.

Securities / Derivatives

SEBI Eases Fundraising Rules for Stressed Listed Companies

27/06/2020

SEBI has relaxed pricing rules for preferential issues to make it easier for listed companies to raise new funds. Similar relaxations for stressed companies were also announced.

Securities / Derivatives

Cambodia Takes Steps to Develop Commodity Futures Market

27/06/2020

A feasibility study on commodity futures trading is being conducted by the securities regulator and Chinese conglomerate Ruifeng Tianfu Investment.