Market Infrastructure

SFC Highlights Liquidity Risk Management Deficiencies at Funds

24/08/2019

The SFC asks fund managers to review their current policies, procedures, systems and processes and take immediate action to rectify any inadequacies or deficiencies.

Securities / Derivatives

SEBI Eases Requirements for FPI Registration

23/08/2019

SEBI has consolidated 57 circulars and 183 FAQs issued over the years into a single circular for FPIs, easing several requirements in the process.

ANZ New Zealand to Review Internal Financial Reporting Processes

23/08/2019

The FMA has determined that ANZ should have disclosed the sale of a luxury property to its ex-CEO’s wife at below-market prices as a related party transaction.

Securities / Derivatives

ASIC Proposes Ban on Binary Options, Restrictions on CFDs

23/08/2019

In 2018, licensed binary options and CFD issuers made about $2bn from these products, largely attributed to retail client losses, fees and costs.

SEBI to Force Borrowers to Disclose Defaults to CRAs

23/08/2019

The move follows a spate of defaults in India where credit rating agencies were blamed for being unable to flag potential credit risks.

Enforcement

SEBI Targets Insider Trading with Informant Reward Mechanism

22/08/2019

Whistleblowers will be eligible for rewards up to $139,000 and, if culpable themselves, for amnesty or settlement with SEBI.

Securities / Derivatives

SZSE ChiNext Board to Adopt Registration Based IPO System

22/08/2019

Shenzhen’s ChiNext board has begun work to prepare for adoption of a registration-based IPO system, currently in use at Shanghai’s new tech board.

ASIC to Monitor Progress to End Conflicted Remuneration

22/08/2019

ASIC will investigate the steps licensed entities are taking to end grandfathered conflicted remuneration for financial advisers and whether the benefits are passed on to clients.

Capital / Liquidity

Singapore Large Exposures Rules to Take Effect in Oct 2020

22/08/2019

MAS published a draft large exposures framework in early 2018, trying to meet the BCBS timeline for adoption in January 2019. The final rules will now take effect in October next year.