Market Infrastructure

Goldman Files Application to Control China Securities JV

22/08/2019

Goldman is seeking to bring its China business in line with its operations in other parts of the world – as its local partner folds its operations into the joint venture.

Enforcement

Former NAB Branch Manager Pleads Guilty to Fraud

22/08/2019

The former branch manager has already received a permanent ban from ASIC for making false and misleading statements to NAB in relation to 24 home loan applications.

Market Infrastructure

WFE Explores Sustainability Standards for Commodity Markets

22/08/2019

In a new white paper, the WFE explores potential ways for commodity derivatives exchanges to address the impact of sustainability.

Enforcement

CSRC Fines Four Individuals for Spreading False News

22/08/2019

The individuals, including a news editor, were fined for spreading ‘fabricated’ news that the CSRC blames for stock market declines in late January.

Securities / Derivatives

BNM Extends Range of Securities Eligible for Repo

21/08/2019

BNM’s draft policy document proposes to extend the maximum tenor of a repo to five years from 365 days previously, and to expand the securities that are eligible for repo.

Capital / Liquidity

APRA Finalises Rule Revisions on Related Entity Exposures

21/08/2019

The revisions may make it more difficult for banking groups to fund offshore business, and force them to restructure or reconsider the relative value of certain group operations.

Enforcement

HK Court Orders Confiscation of HK$1.46m from Former UBS Exec

21/08/2019

The case relates to the 2017 conviction of a former UBS associate director for accepting over HK$1.4mn in bribes from a Shenzhen-based client.

Capital / Liquidity

Cross-holdings Among Chinese FIs Raise Systemic Risk: S&P

21/08/2019

A new report from S&P says insurers’ high exposure to banks and cross-holdings between banks could heighten systemic risk.

Enforcement

ASIC to Initiate Legal Proceedings Against Banks Within “Weeks”

20/08/2019

In addition to the 13 referrals from the royal commission, ASIC has been investigating “three times as many” case studies with a view to initiating legal proceedings in the new few weeks.