Market Infrastructure

ASX Finalises Changes to 3-year, 10-year Treasury Bond Futures Roll

27/02/2020

A consultation on the changes received 36 submissions, largely supportive of ASX’s proposals, citing reduced costs, operational efficiencies and improved order management capabilities.

Securities / Derivatives

SEBI Imposes New Margin Collection Norms on Brokers

27/02/2020

From 1 June, collateral accepted by brokers for margin purposes must be held in a separate demat account created in the depository system, tagged as ‘Client Securities Margin Pledge Account’.

Securities / Derivatives

New Securities Law Set to Take Effect in China

27/02/2020

The new law, set to take effect on Sunday, establishes the legal basis for the adoption of a registration-based IPO system across the entire A-share market.

Enforcement

IOOF Faces Shareholder Class Action for Misconduct Non-disclosure

27/02/2020

Reports of potential misconduct first appeared in June 2015, followed by senate hearings and questioning from the Royal Commission, resulting in shareholder losses.

Market Infrastructure

Central Bank to Discontinue Sri Lanka Inter-Bank Offered Rate

27/02/2020

This decision reflects the lack of SLIBOR’s usage of in benchmarking loan products in the domestic financial market, along with a global trend of phasing out IBORs.

Fintech / Regtech

FSC Korea Unveils Policy Initiatives to Promote Fintech, Digital Finance

27/02/2020

South Korea’s FSC has announced new policy measures in five key areas to promote fintech and digital finance, and establish a stronger foundation for financial sector innovation.

Enforcement

ASIC Reveals Sharp Increase in Investigations Involving Major FIs

27/02/2020

As of 1 January, ASIC had 316 investigations on foot related to misconduct. Cases involving CBA, NAB, Westpac, ANZ and AMP increased 52% from 12 months earlier.

Market Infrastructure

BOE to Increase Haircuts on LIBOR-linked Collateral from October

27/02/2020

The market need to see a decisive acceleration in effort in 2020 to ensure risk-free rates are adopted and LIBOR is left behind for good, the BOE’s Andrew Hauser said.

Market Infrastructure

RBNZ Launches New Payment Settlement System

27/02/2020

Replacing a 20-year old system, the new payment settlement platform comprises an RTGS system known as ESAS 2.0 and a central securities depository called NZClear 2.0.