Securities / Derivatives

Thailand: SET Gets Powers to Respond to Market Disruptions

15/04/2020

In a market disruption event, the SET board now has the power to prohibit short selling and algorithmic trading on the spot, among other measures.

Bangladesh: Bankers Get Incentives to Work During Lockdown

15/04/2020

The central bank has ordered banks pay officers and employees full month salary for 10 days’ work during Covid-19 lockdown.

ASIC Eases Financial Advice Rules to Facilitate Super Withdrawals

15/04/2020

Under ASIC relief, advice providers, tax agents and superannuation trustees are allowed to advise consumers on early withdrawals of their superannuation savings.

ESG / Sustainability

IOSCO Forms Task Force to Address Sustainable Finance Issues

15/04/2020

The Task Force will work on sustainability and ESG disclosure challenges for investors, including to enhance transparency and address investor protection issues.

G7 Nations Back Debt Relief for Vulnerable Emerging Markets

14/04/2020

The G7 has declared its support for a temporary suspension of debt service payments due on official bilateral claims for all countries eligible for World Bank concessional financing.

AML / KYC

Westpac Expects to Pay A$900m Over AML Breaches

14/04/2020

While the bank expects to make a provision of A$900mn over AUSTRAC’s claim, it says the actual penalty may be materially higher or lower than this amount.

Market Infrastructure

FSB Updates G20 on Coordinated Response to Covid-19

14/04/2020

Since mid-March, FSB members have reported about 850 discrete actions to address the financial and economic fallout related to Covid-19.

Securities / Derivatives

China’s Top Two Brokerage Firms Explore Merger – Report

14/04/2020

A merger between Citic Securities and CSC Financial would create a $67bn investment bank, surpassing the market cao of most other foreign competitors.

Enforcement

ASIC Shifts Focus to Ensure Market Integrity, Protect Consumers

14/04/2020

Covid-19 has raised the risk of significant consumer harm and serious breaches of financial services laws, says ASIC chair James Shipton.