Securities / Derivatives

PBOC Approves Development of ‘Standardised Notes’

20/08/2019

Standardised notes are tradable beneficiary certificates backed by a pool of commercial paper or bankers’ acceptances with similar maturities.

Enforcement

Unauthorised New Zealand Adviser Faces Lengthy Jail Term

20/08/2019

A New Zealand court has reportedly convicted an unauthorised financial adviser of 38 charges relating to a long-running fraud which funded a lavish lifestyle of private jets and jewellery.

Capital / Liquidity

CBIRC Urges Acceptance of IP Pledges as Loan Collateral

20/08/2019

Financial institutions are encouraged to “actively carry out intellectual property pledge financing business” to provide greater support to innovative enterprises in their development.

Enforcement

SFC, ICAC Formalise Cooperation Arrangement with MoU

20/08/2019

The MoU covers case referrals, joint investigations, the exchange and use of information, mutual provision of investigative assistance, and capacity building.

Market Infrastructure

Australia Accelerates Post Royal Commission Reform

20/08/2019

Under the government’s implementation roadmap, close to 90% of its remaining commitments will be implemented by mid-2020, and legislation for the rest will be introduced by end-2020.

Securities / Derivatives

ASX to Move Bank Bill Futures to Cash Settlement

19/08/2019

It is widely believed that cash-settled contracts will increase trading activity and liquidity into and throughout expiry, and result in lower risk of failed settlement.

Market Infrastructure

PBOC Reforms Interest Rate Setting Mechanism

19/08/2019

The new market-oriented mechanism for calculating the Loan Prime Rate is expected to lower the cost of borrowing nationwide.

Capital / Liquidity

HKMA Adjusts Initial Margin Implementation Schedule

19/08/2019

The HKMA has adjusted its implementation schedule for the incoming requirements, taking into account the one-year phased extension announced by BCBS and IOSCO in July.

Securities / Derivatives

HKEX Proposes Changes to Pre-Open Session, Volatility Controls

19/08/2019

The proposals aim to improve market liquidity and global competitiveness of the Hong Kong market, HKEX says in a new consultation paper.