Market Infrastructure

China-Japan Cross-Border ETFs Start Trading

28/06/2019

Eight new cross-border ETFs have started trading on the Shanghai and Tokyo stock exchanges, just days after FTSE Russell started including China A shares in its indexes.

Capital / Liquidity

BCBS Finalises Revisions to Leverage Ratio, Disclosure Requirements

28/06/2019

The leverage ratio revision permits cash and non-cash forms of margin received from clients to offset the replacement cost and potential future exposure for client cleared derivatives.

Enforcement

MUFG Bank Reaches Settlement with New York State Regulator

28/06/2019

The agreement settles claims relating to MUFG’s switch from state to federal oversight in November 2017, as New York regulators asserted continuing regulatory authority.

Capital / Liquidity

FSC Announces S. Korea’s D-SIBs for 2020

28/06/2019

The five bank holding companies and their subsidiary banks will be required to set aside additional common equity capital of 1% for 2020.

Securities / Derivatives

SGX Enables Portfolio Compression for Listed Derivatives

28/06/2019

SGX, in collaboration with a unit of BGC Partners, has become the first exchange in Asia to launch a portfolio compression service for listed derivatives.

Enforcement

ASIC Imposes Lifetime Ban on Former Westpac Adviser

27/06/2019

The former adviser is said to have prioritised his own interests over those of his clients by providing inappropriate advice that maximised fees and commissions.

Market Infrastructure

RBI Issues Guidelines for Financial Benchmark Administrators

27/06/2019

Existing financial benchmark administrators will be notified if their benchmark is considered a “significant benchmark”. They will then have three months to apply for RBI authorisation.

Securities / Derivatives

CSRC Allows Funds to Engage in Securities Lending

27/06/2019

Certain funds can lend stocks to the state-owned China Securities Finance Corp, which can then lend to brokers, who facilitate investor short selling.

Enforcement

RBNZ to Intensify Supervision of Financial Institutions

27/06/2019

The RBNZ is reviewing its regulatory requirements and intensifying its supervision of financial institutions to boost the resilience of New Zealand’s financial system.