Securities / Derivatives

China Relaxes ‘One Size Fits All’ Margin Financing Rules

12/08/2019

Brokerage firms can set lower thresholds before margin calls need to be initiated, and can accept additional forms of collateral to make up any shortfalls.

Capital / Liquidity

China Intervenes to Support a Third Troubled Bank

12/08/2019

China’s sovereign wealth fund and the Shandong provincial government will invest in Hengfeng Bank, which failed to disclose its financial statements for two straight years.

AML / KYC

Malaysia Files Criminal Charges Against 17 Goldman Directors

12/08/2019

The current and former directors each face 1MDB-related charges carrying a maximum 10-year jail term and a minimum penalty of 1 million ringgit.

Enforcement

Another Former Huarong Executive Charged with Corruption

12/08/2019

The former chairman of Huarong Investment Stock Corp, Qin Ling, stands accused of using his position to seek benefits for others, accepting bribes, and embezzlement.

Market Infrastructure

ISDA Consultation on LIBOR Pre-Cessation Reveals Mixed Results

12/08/2019

ISDA received responses from 89 entities expressing a “wide variety of views” on whether and how to implement a pre-cessation trigger, with no clear majority for any approach.

Market Infrastructure

RBI Task Force Suggests Enhancements to Onshore Rupee Market

10/08/2019

The task force recommends implementation of margin requirements for non-centrally cleared OTC derivatives “at the earliest”.

AML / KYC

Australia Records Decline in Payment Fraud Rates

09/08/2019

AusPayNet’s latest data shows a decline in the overall rate of card fraud for 2018, alongside slower growth in online fraud.

Capital / Liquidity

RBI Cuts Consumer Credit Risk Weight, Offers Boost to NBFCs

09/08/2019

The RBI will increase bank exposure limits for NBFCs, allow on-lending to priority sectors, and enable near-real-time tracking of payments fraud through the creation of a centralised registry.

Enforcement

CSRC Imposes Six-Month Business Restriction on GF Securities

09/08/2019

The CSRC cited risk management and control deficiencies as reasons for the restrictions, after a hedge fund set up by the broker reported losses of $139mn for 2018.