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%.

Fintech / Regtech

India’s NPCI Unveils DLT Based Platform to Further Streamline Payments

07/01/2020

The Vajra Platform will enhance data security and transparency, facilitate real-time transactions and reduce reconciliation challenges and processing errors, the NPCI said.

Sri Lanka to Penalise 8 Banks for Failing to Lower Lending Rates

07/01/2020

Eight banks will be penalised for failure to lower lending rates by a 27 December 2019 deadline set by the central bank in September last year, intended to ensure the public benefits from monetary policy decisions.

Market Infrastructure

SEBI Issues Revised Framework for Core Settlement Guarantee Fund

07/01/2020

If the core settlement guarantee fund is used up during a calendar month, non-defaulting members of clearing corporations shall immediately replenish the fund.