Market Infrastructure

RBI Allows Banks to Offer FX Trading Beyond Market Hours

08/01/2020

The move is aimed at improving the ability of market participants to hedge currency risk in the onshore rupee market to boost domestic trading volumes.

Enforcement

HKEX Updates Rules for Southbound Investor Identification Regime

08/01/2020

The rule update requires the China broker to keep records of all submitted orders, SEHK trades and related client instructions for a minimum of 20 years.

Enforcement

CSRC Issues Administrative Penalty Against Chinalin Securities

08/01/2020

Chinalin Securities is prohibited from expanding the scale of its business for three months for violating regulations on internal controls, compliance inspections and governance failures.

Market Infrastructure

ISDA Offers Guidance on Cross-Border Application of Margin Rules

08/01/2020

The guide seeks to help firms subject to margin rules analyse multiple foreign rule sets, identify situations in which different rules apply, and improve understanding on substituted compliance.

Market Infrastructure

SEBI Updates Framework for System Audits of Market Infrastructures

08/01/2020

Stock exchanges, depositories and clearing corporations are required to include compliance with SEBI rules in the scope of their system audits, and to report any non-compliance to the regulator.

Securities / Derivatives

ESMA Analyses Market Impact of Circuit Breakers

08/01/2020

ESMA’s study found that price volatility is significantly lower after the use of a circuit breaker, as intended, but that bid-ask spreads significantly increase after a trading halt.

Fintech / Regtech

Philippine Lawmaker Proposes Regulatory Framework for Virtual Banks

08/01/2020

The bill proposes that the BSP grant five virtual bank licences every year for at least five years, and to allow both financial and non-financial firms to apply.

Securities / Derivatives

SFC Provides Licensing Guidance for PE Firms, Family Offices

08/01/2020

The SFC has issued two circulars clarifying how licensing obligations apply to the activities of PE firms and family offices in Hong Kong.

Capital / Liquidity

Bangladesh Banks Given Final Deadline to Cut Lending, Deposit Rates

07/01/2020

Finance Minister AHM Mustafa Kamal says banks have a final deadline of 1 April to bring down the maximum lending rate to 9% and the maximum deposit rate to 6%.