Securities / Derivatives

Merger Benefits Diminished Under Existing JPX-TOCOM Plan

07/04/2019

The current plan to keep crude oil and petroleum products on TOCOM will diminish the benefits of the planned merger with JPX.

Market Infrastructure

Supervisors Should Avoid Fragmenting Clearing Ecosystem – Report

07/04/2019

A report from the World Federation of Exchanges and Oliver Wyman urges supervisors to ensure outstanding CCP reforms are implemented in line with agreed principles to avoid fragmentation.

Capital / Liquidity

Sectoral CCyB May be Useful Addition to Existing Tools – BCBS Paper

05/04/2019

Sectoral CCyBs increase banking system resilience at a lower cost than the Basel III CCyB, and can serve to reduce excessive credit growth and risks in targeted segments.

Capital / Liquidity

SFC Finalises Guidelines on Securities Margin Lending

05/04/2019

The guidelines will take effect in October, requiring brokers to limit margin lending to five times their capital, among other controls to reduce excessive leverage.

Enforcement

ASIC, APRA Granted New Intervention Powers

05/04/2019

ASIC can intervene where financial and credit products put consumers at risk; APRA can intervene to prevent harm to superannuation members.

Capital / Liquidity

RBI to Draw Up New Guidance on Bad Debt Resolution

05/04/2019

The central bank will have to issue a revised circular for banks on bad debt resolution after a February 2018 circular was invalidated by the Supreme Court this week.

Securities / Derivatives

S. Korean May Allow Fintechs to Enter Brokerage Business

05/04/2019

The biggest barrier to entry for fintech firms will be the capital regulations imposed on existing brokerage firms.

Market Infrastructure

Japan FSA Issues Proposal to Tighten Regional Bank Oversight

04/04/2019

The FSA will stress tests regional banks and force weaker lenders to take action to improve profitability, replace their management, or merge.

Market Infrastructure

Fullerton Wins Approval to Offer Investment Advisory in China

04/04/2019

Fullerton has become the first foreign fund manager to receive approval for its WFOE to conduct onshore investment advisory business in China.