Market Infrastructure

FMSB Review Highlights Data Risks in Wholesale FICC Markets

12/05/2020

The paper highlights the benefits of moving to a more centralised data strategy, including cost reduction, risk reduction, and the ability to better use data to drive value.

AML / KYC

ATO to Run Additional Checks to Prevent Superannuation Fraud

12/05/2020

Australia’s superannuation early access scheme was temporarily suspended late last week due to fraud. It has since resumed, with enhancements to increase the end-to-end security.

Fintech / Regtech

S. Korea Launches Financial Data Exchange Platform

11/05/2020

The exchange will serve buyers and sellers of anonymised financial data, facilitating the use of analytics to develop new financial products and services, while also ensuring data security.

CBIRC Issues Draft Rules on Online Lending by Banks

11/05/2020

Per-household credit lines will be capped at 200,000 yuan, and online loans may not be used for housing purchases, mortgage repayment, or investment in financial products.

Securities / Derivatives

CBIRC Green-lights China Pacific Insurance GDR Listing on LSE

11/05/2020

The listing is still pending approvals from securities regulators in China and the UK, and exchange operators in Shanghai and London.

Capital / Liquidity

UK Regulators Defer Majority of Regulatory Initiatives

11/05/2020

Incoming Basel requirements and margin rules will be deferred. The transition away from LIBOR will continue as planned. Work is still underway to prepare for Brexit.

Securities / Derivatives

SGX RegCo to Scrap Minimum Trading Price Rule from 1 June

11/05/2020

The MTP rule is described as a “blunt tool” for addressing risk of market manipulation, compared to more effective tools that target such manipulation directly.

Securities / Derivatives

FSC Korea Mulls Issuance Limits for Equity-linked Securities

11/05/2020

Driven by demand from retail investors for higher yields, some securities firms have been selling ELS products beyond their equity capital.

Enforcement

Hong Kong: Investors Seek Compensation for Failed IPOs – Report

11/05/2020

The SFC has issued almost HK$1bn in penalties for IPO sponsor failures over 20 years. These proceeds have gone to the government, not investors.