Capital / Liquidity

Some Chinese Banks Would Crack Under Stress: S&P

31/01/2020

S&P Global Ratings identifies Bohai Bank, China Zheshang Bank, and Shengjing Bank as under more pressure than other PBOC stress-tested banks.

Market Infrastructure

RBNZ Endorses Official Cash Rate as Fallback Benchmark

31/01/2020

New Zealand will operate a dual interest rate benchmark system, retaining the Bank Bill Benchmark Rate and using the OCR as its fallback.

Uncategorised

IMF Warns of Buildup of Financial Vulnerabilities

30/01/2020

The deployment of cyclical macroprudential policy tools such as the CCyB is now paramount to keep rising vulnerabilities from putting growth at risk.

Capital / Liquidity

HKMA Maintains 2% CCyB Amid ‘Uncertain’ Environment

30/01/2020

HKMA chief Eddie Yue says it is appropriate to maintain the CCyB at 2.0% to allow more time to “observe the trend”.

Enforcement

SFC Suspends RHB Securities AE for Unauthorised Discretionary Trades

30/01/2020

The account executive conducted discretionary trades for a client account for almost two years without obtaining written authorisation.

Enforcement

ASIC Bans Adviser for Bad Investment Recommendation

29/01/2020

A former adviser of NAB-owned Godfrey Pembroke failed to act in his clients’ best interests by recommending they invest in a mobile payments start-up that later failed.

Market Infrastructure

ISDA Welcomes Libor Pre-cessation Clarity from FCA, IBA

29/01/2020

The FCA has clarified that any period of non-representative LIBOR based on reduced panel bank submissions could last for only a period of months, not years.

Securities / Derivatives

SEC Philippines Drafts Derivatives Investment Rules for Funds

29/01/2020

The global exposure to financial derivatives must not exceed 20% of the qualifying fund’s net assets, up from 10% previously.

AML / KYC

SEBI Panel Proposes Tighter Norms for Related Party Transactions

29/01/2020

Any member of the promoter group would be deemed a related party regardless of shareholding. Any shareholder with more than 20% of a listed company’s shares would also be deemed a related party.