Enforcement

Ex-JP Morgan Managing Director Charged with Bribery

20/05/2019

A former JP Morgan Securities managing director offered to employ the son of a potential client as a reward for “showing favour” in hiring the bank for IPO sponsor work.

Securities / Derivatives

BNM Announces Initiatives to Boost Market Liquidity, Accessibility

20/05/2019

The changes include enhanced repo market liquidity and flexibility, easier access to forex market, and an improved delivery mechanism for MGS futures settlements, among others.

Enforcement

UPDATED – Former CSRC Chief Under Investigation in Corruption Probe

20/05/2019

Liu Shiyu, the former head of the CSRC who was replaced in January, is now under investigation in a corruption probe.

Capital / Liquidity

China: Regulatory Pressure Prompts Lending Rate Price War

20/05/2019

ICBC was reportedly the first bank to lower its lending rate on small business loans, offering a rate of 4.5% in Q4 2018, compared to the PBOC’s one-year benchmark lending rate of 4.35%.

Enforcement

European Commission Fines Five Banks Involved in FX Trading Cartel

20/05/2019

Individual traders at Citigroup, Barclays, RBS, JP Morgan and MUFG exchanged sensitive information and coordinated spot FX trading strategies through online chatrooms.

NBFCs Must Appoint Chief Risk Officer – RBI

20/05/2019

The CRO must function independently, with no other responsibility or ‘dual hatting’, and report directly to the MD, CEO, or risk management committee of the board.

Market Infrastructure

Nasdaq Launches Global ESG Reporting Guide

17/05/2019

The new guide takes into account the TCFD recommendations, the UN Sustainable Development Goals, WFE guidance and best practices, and Nasdaq’s own pilot programme.

Market Infrastructure

Japanese Firms Ally in Support of Climate Risk Transparency

17/05/2019

The Japanese consortium adds nearly 100 more companies, including banks, to the growing list of firms that support the TCFD recommendations on climate risk disclosures.

Enforcement

NSE India Fines 250 Listed Companies

17/05/2019

India’s National Stock Exchange has fined 250 firms for non-compliance with its listing obligations and disclosure requirements.