Enforcement

Singapore Court Issues First Jail Sentence for 2013 Penny Stock Crash

22/03/2019

Former Ipco International interim CEO Goh Hin Calm was sentenced to three years imprisonment for his role in the 2013 multi-billion-dollar penny stock crash.

Enforcement

UK FCA Fines UBS for MiFID Transaction Reporting Failures

22/03/2019

Over 9.5 years, UBS AG made 135.8 million errors in its transaction reporting, over a third of which involved erroneously reported transactions which were not in fact reportable.

Securities / Derivatives

ISDA Publishes Full Version of Derivatives Lifecycle Blueprint

22/03/2019

The ISDA Common Domain Model for interest rate and credit derivatives has been published, part of a push to standardise global derivatives trading and automate market practices.

Securities / Derivatives

SFC Orders Brokers to Freeze Client Assets in Market Manipulation Case

22/03/2019

The prohibition orders as part an investigation into suspicious trading which appeared to create a false market in China Ding Yi Feng shares leading to an “irrationally high share price”.

Enforcement

Indian Billionaire Arrested in London over $2bn Bank Fraud

22/03/2019

India’s diamond billionaire, Nirav Modi, has been arrested in London for his alleged role in a $2bn fraud at Punjab National Bank reported last year.

Market Infrastructure

SEBI Consults on Adoption of Dual Class Share Structures

22/03/2019

SEBI’s consultation paper seeks feedback on the issuance of dual class shares by companies already listed in India and those that may be in future.

Market Infrastructure

RBA’s Kent Urges Continued Preparation for the End of LIBOR

21/03/2019

The RBA’s Christopher Kent urges market participants to continue preparing for the end of LIBOR by moving to alternative RFRs and adopting more robust fall-back provisions in contracts.

Capital / Liquidity

Basel III Monitoring Reveals Fall in Big Banks’ Capital Ratios

21/03/2019

The latest monitoring exercise indicates that all banks are meeting CET1 and LCR requirements, but that the biggest banks’ capital ratios have fallen for the first time.

Capital / Liquidity

CBIRC Orders Banks to Disclose NSFR Every 6 Months

21/03/2019

China’s banking regulator has issued new rules requiring mandatory disclosure of NSFR every six months, and additional public disclosures of NSFR data on banks’ websites.