Enforcement

PBOC Suspends Traders for ‘Abnormal’ Overnight Repo Transactions

09/07/2019

The trades involved overnight bond repo transactions in the interbank market at prices below normal market rates.

Securities / Derivatives

India Proposes Additional GIFT City Tax Incentives

08/07/2019

Existing tax incentives have been extended to 10 years from 5 years. New exemptions for dividend distribution tax and alternate investment funds also proposed.

Capital / Liquidity

India’s 2019 Budget Grants Lifeline to State Banks, NBFCs

08/07/2019

The government announced a fresh capital infusion for state banks, credit guarantees on NBFC assets, and stronger supervisory powers for the RBI.

Securities / Derivatives

SSE STAR Market to Start Trading on 22 July

08/07/2019

The Shanghai Stock Exchange has said the first batch of listings on the new science and technology innovation board will start trading on 22 July.

Market Infrastructure

Philippine SEC Drafts Framework for Cross-border Publication of Research

08/07/2019

Under the draft framework, capital market professionals authorised by the SEC can issue research reports in ASEAN countries that are MoU signatories: Malaysia, Singapore and Thailand.

Market Infrastructure

ASIC Updates Assessment Procedures for AFS Licence Applicants

08/07/2019

Licence applicants are now required to provide certain additional information and documents in their application to allow ASIC to ensure responsible officers are of good fame or character.

Securities / Derivatives

China to Launch New Futures Contracts

08/07/2019

China will launch futures contracts in urea, rubber and glutinous rice, and potentially stainless steel futures later in the year.

Big Picture

Open Banking, APIs Will Unlock a Host of Opportunities: NPP Australia

08/07/2019

A new white paper from NPP Australia provides an overview of developments in other real-time payments markets, including opportunities and challenges for the payments sector.

Securities / Derivatives

CSRC to Use Investor Protection Funds to Bail Out Brokers in Crisis

08/07/2019

The draft rules say securities firms would need to provide equivalent collateral for loans from the Investor Protection Fund, which will charge 1.5 times the market lending rate.