Enforcement

UPDATED – RBI Bans EY Member Firm from Auditing Banks

05/06/2019

Reports indicate the RBI had found large discrepancies in bad debt reported by banks for the 2015-2016 period, particularly in the cases of Axis Bank and YES Bank.

Enforcement

MAS Penalises Singapore National in LSE Insider Trading Case

05/06/2019

The penalty was the result of close cooperation and information sharing between MAS and the UK FCA, which had referred the case and provided investigative assistance.

Market Infrastructure

BSE India, ICCL Implement CCP Interoperability Framework

04/06/2019

BSE India and its subsidiary ICCL have gone live with the clearing corporation interoperability framework, despite a one month extension being announced.

Capital / Liquidity

‘Loan Inconsistencies’ Prompt EY Resignation as Chinese Bank Auditor

04/06/2019

The resignation of EY as the auditor of Bank of Jinzhou comes as questions are being raised about the health of China’s small and mid-size lenders.

Capital / Liquidity

RBI Amends Large Exposures Framework for Banks

04/06/2019

The modified framework excludes all entities connected with the sovereign from definition of group of connected counterparties, such as exposures to or guaranteed by government.

Market Infrastructure

HK FRC Concludes Consultation on Auditor Misconduct Penalties

04/06/2019

The FRC will be empowered to order penalties of up to HK$10mn or three times the profit gained or loss avoided as a result of misconduct, whichever is higher.

Securities / Derivatives

Bursa Malaysia Central Depository to Expand Electronic Services

03/06/2019

Bursa Malaysia is proposing rule amendments to facilitate the introduction of new CDS eServices via ‘Bursa Anywhere’ – a new electronic platform.

Market Infrastructure

Japan, Philippines Explore Yen-Peso Direct Trading

03/06/2019

Japan and the Philippines will explore the establishment of direct yen-peso settlement for trade and investment between the two countries.

Enforcement

Macquarie Securities Penalised for Submitting Incorrect Regulatory Data

03/06/2019

Over 4 years, approximately 42 million orders containing incorrect or omitted regulatory data were submitted to ASX and Chi-X.