Market Infrastructure

RBNZ Estimates Cyber-attacks Cost Financial Sector NZ$144m Annually

26/02/2020

More extreme events have a low probability but are still plausible, illustrating the importance of managing cyber resilience effectively, the RBNZ says.

Market Infrastructure

ISDA Launches New Consultation on Pre-cessation Fallbacks

25/02/2020

ISDA seeks input on whether to add a pre-cessation trigger to the permanent cessation fallbacks it is implementing for LIBOR in its standard documentation.

Market Infrastructure

Taiwan Banks Likely to Replace LIBOR with SOFR: FSC

25/02/2020

The central bank calls on local banks to carefully evaluate the effects of the LIBOR transition, formulate benchmark conversion plans, and review the plans regularly.

Securities / Derivatives

Bursa Malaysia Subsidiary to Assume All Regulatory Functions

25/02/2020

The establishment of the new wholly-owned subsidiary, ‘Bursa RegSub’, follows a similar approach to SGX, which formed SGX RegCo to undertake all regulatory functions in 2017.

Market Infrastructure

ISDA Concludes Consultation on EUR LIBOR, EURIBOR Fallbacks

25/02/2020

Respondents selected the ‘compounded setting in arrears rate approach with a backward-shift adjustment’ and ‘five-year historical median approach to the spread adjustment’.

Securities / Derivatives

SEBI Amends Margin Framework for Cash, Derivatives Segments

25/02/2020

Margin requirements will be lower for positions that are hedged against each other, making some options strategies more feasible for traders.

Enforcement

HKEX Finds Compliance Deficiencies at Exchange, Clearing Participants

25/02/2020

HKEX has asked 95 participants to address deficiencies relating to position limits and large open position reporting, risk management and China Connect trading activities.

ESG / Sustainability

APRA to Develop Climate Risk Guidance, Assess ADI Vulnerability

25/02/2020

APRA will develop guidance on climate change financial risk, conduct a vulnerability assessment of ADIs, and include ESG in superannuation investment governance guidance.

AML / KYC

Hong Kong Insurance Authority Allows Non-face-to-face Product Sales

25/02/2020

The temporary measures are aimed at reducing the risk of Covid-19 infection from face-to-face meetings between insurers, intermediaries and clients.