Market Infrastructure

Most Rules to Prevent Complex Product Mis-selling Already in Place

27/09/2019

Only China, Hong Kong, Japan and Singapore are fully consistent with all nine IOSCO principles on suitability requirements for the distribution of complex financial products.

Market Infrastructure

APAC Central Banks Prepare Market for Benchmark Reforms

27/09/2019

A group of APAC central banks have issued a report on the regional implications of LIBOR’s discontinuation, BMR implementation, and reforms to local benchmarks.

Market Infrastructure

ASX Entities Need Stronger Legal Basis to Access Risk Capital

27/09/2019

In its latest assessment of ASX’s clearing and settlement facilities, the RBA says the facilities need to strengthen their legal basis to access general business risk capital.

Enforcement

New Zealand to Introduce New Conduct Oversight Regime

27/09/2019

New legislation to implement the regime is expected by year-end, empowering the FMA with stronger enforcement tools and the ability to impose higher penalties for conduct breaches.

Big Picture

BIS Warns of Potential Financial Distress from CLO Market

26/09/2019

CLO losses experienced by non-bank investors such as hedge funds and insurance companies could present risks to banks, the BIS says in its quarterly review.

Capital / Liquidity

RBI Caps Withdrawals at Failing PMC Bank, Prompting Panic

26/09/2019

The RBI has ordered the troubled cooperative bank to cap withdrawals at 1,000 rupees per account, prompting panic, protests and promises of legal action from customers.

Market Infrastructure

CFTC Proposals on Foreign CCPs Can be Improved: WFE

26/09/2019

While the WFE welcomes the CFTC proposals as a step towards reducing regulatory fragmentation, it says they can be made more risk-sensitive and better tailored to today’s markets.

Securities / Derivatives

Taiwan to List First Offshore Nasdaq-100 Index Futures

26/09/2019

Monday will mark the first time Nasdaq-100 index futures are listed outside the US, the result of a collaboration between CME Group and TAIFEX.

Capital / Liquidity

Small Finance Banks Rush to Meet RBI Listing Deadline

26/09/2019

A three-year deadline to publicly list is approaching for small finance banks that were granted in-principle licences by the RBI in September 2015.