Enforcement

SEBI Proposes SRO Nomination Plan for Mutual Fund Distributors, Advisers

02/04/2019

A consultation proposes the creation of a nomination committee comprising external experts to recommend a self regulatory organisation for mutual fund distributors and advisers to curb mis-selling.

Market Infrastructure

NSE, SGX Reach Agreement on India Derivatives

01/04/2019

NSE and SGX have reportedly finalised an agreement that will enable SGX to offer trading in Nifty derivatives to Singapore investors through a special purpose vehicle operating as a broker at GIFT City.

Market Infrastructure

EU, Singapore Adopt Decision to Mutually Recognise Derivatives Venues

01/04/2019

The European Commission recognises Singapore trading venues as MiFIR-compliant; MAS has exempted EU trading facilities from its markets licensing requirements.

Fintech / Regtech

S. Korea Launches Regulatory Sandbox, 105 Applications Received

01/04/2019

South Korea’s Special Act on Financial Innovation Support has taken effect 1 April, marking the formal launch of the country’s first financial regulatory sandbox.

AML / KYC

UN Security Council Resolution Targets Terrorism Financing

01/04/2019

The UN Security Council has adopted a resolution calling on member states to beef up efforts to identify, prosecute and penalise those directly or indirectly financing terrorism.

Capital / Liquidity

Vijaya, Dena Banks Start Operating as Bank of Baroda Branches

01/04/2019

The state-backed three-way merger of Vijaya Bank, Dena Bank and Bank of Baroda has taken effect, creating India’s third largest lender.

AML / KYC

Indonesia Simplifies Stock Account Opening Process

01/04/2019

A new simplification programme for opening stock accounts in Indonesia should cut processing times to as little as 30 minutes, from about two weeks previously.

AML / KYC

Malaysia Mulls Cash Transaction Limit as AML Measure

01/04/2019

Bank Negara Malaysia will conduct a public consultation by Q3 to gather feedback on the implementation of a cash transaction limit, what it should be, and whether it is even desirable.

Market Infrastructure

SEBI Updates Disaster Recovery Guidelines for Market Infrastructures

01/04/2019

Stock exchanges, depositories and clearing corporations must have in place business continuity plans and disaster recovery policies that ensure ‘zero data loss’