Market Infrastructure

IOSCO Urges Market Participants to Move to RFRs ‘Now’

02/08/2019

IOSCO says early transition to risk free rates will help to mitigate potential financial stability and conduct risks associated with the transition away from LIBOR.

Enforcement

Compensation for Poor Advice Reaches A$120m: ASIC

02/08/2019

NAB paid the most to compensate customers for failures by the largest number of advisers, and is expected to take the longest to complete its remediation programme.

Fintech / Regtech

TSE Seeks ‘Data Sandbox’ Partners to Support Innovation

02/08/2019

The Tokyo Stock Exchange is looking to startups, data providers and so-called ‘innovation partners’ to help create new services for the securities sector.

Enforcement

Thailand SEC to Incorporate AI in Price Manipulation Probes

02/08/2019

Existing investigation and fact-finding procedures currently take 1.5 years before civil sanctions or penalties are imposed.

Enforcement

NPP Australia Responds to RBA on Platform Access, Functionality

01/08/2019

Effective immediately, NPP Australia has established a mandatory compliance framework allowing it to designate core capability requirements and enforce compliance through non-compliance charges.

Market Infrastructure

SEBI Grants QCCP Status to MCX Clearing Corporation

01/08/2019

SEBI has granted qualifying central counterparty status to Multi Commodity Exchange Clearing Corporation.

Enforcement

Former China Development Bank Chairman in Corruption Probe

01/08/2019

The bank’s former chairman is said to have channelled bribes to a party official from the now-missing former chairman of a conglomerate, CEFC China Energy.

Market Infrastructure

HKMA Reports on Open API Implementation Progress

01/08/2019

Phase I Open APIs provide information on banking products and services. Phase II will allow banks to process applications for such products and services by end-October.

Capital / Liquidity

RBI Eases Rules on Overseas Borrowing for NBFCs

01/08/2019

NBFCs can use overseas borrowings to fund working capital, repay rupee loans, and on-lend to domestic customers. Banks can also sell distressed loans to eligible overseas lenders.