Payments & Settlements

Westpac to ‘Proactively’ Switch Merchants to Least Cost Routing

06/08/2020

The RBA has signalled it was considering taking regulatory action to force banks to move faster in moving merchants from Mastercard and Visa to lower cost networks.

Trading & Investment

TWSE Sets 26 October Launch Date for Odd-Lot Trading

06/08/2020

Currently, odd-lot trading is only permitted in after-hours trading. Starting 26 October, odd-lot orders will be accepted during the regular trading session.

Anti-Money Laundering

Malaysia Jails Eight Over Illegal Deposit-taking Scheme

05/08/2020

Eight individuals were sentenced to between three and nine years’ jail. Total fines issued, including against three companies, amount to $310mn.

Clearing & Post-Trade

ASX Concludes Consultation on CHESS Replacement Timeline

05/08/2020

A four-week consultation on a new timeline for the CHESS replacement project has found that 91% of users can be ready by April 2022.

Trading & Investment

SEBI Postpones Penalties Under New Upfront Margin Collection Norms

05/08/2020

SEBI said the penalty provision for short-collection or non-collection of upfront margin in the cash segment will now be implemented from 1 September.

Trading & Investment

SSE, SZSE Issue Rules on the Exchange of Corporate Bonds

05/08/2020

The rules require companies that issue replacement bonds to exchange for maturing debt to make exchange offers to all bondholders on an “equal and voluntary basis”.

Trading & Investment

MAS Announces New Initiatives to Support SORA Adoption

05/08/2020

The initiatives aim to catalyse greater activity in SORA markets, safeguard the benchmark’s integrity and enhance market confidence in SORA.

Conduct, Culture & Accountability

CBA Increases Remediation Provisions Ahead of Full-Year Results

05/08/2020

Customer remediation provisions have been increased by A$300mn, bringing CBA’s total remediation bill to A$834. The full-year results are due on 12 August.

Credit Risk

HKMA Defers Trade Facility Repayments by a Further 90 Days

05/08/2020

Banks have agreed to allow corporate customers who still face cash-flow pressures to further extend their trade facilities for a further 90 days, on top of the 90 days granted from May.