Capital / Liquidity

Australia, India Compliant with NSFR, Large Exposures Framework

05/07/2019

The BCBS has assessed the implementation of the NSFR and large exposures framework in Australia and India to be ‘compliant’ with its standards.

Market Infrastructure

CBIRC Green-Lights Three City Commercial Banks’ WMP Units

05/07/2019

Bank of Hangzhou, Bank of Ningbo and Huishang Bank will form the first batch of city commercial banks to join larger rivals in setting up wealth management subsidiaries.

Securities / Derivatives

Vietnam Launches Covered Warrants, Govt Bond Futures

04/07/2019

The Ho Chi Minh City Stock Exchange has launched trading in covered warrants; the Hanoi Stock Exchange has launched a new government bond futures contract.

Enforcement

Goldman Banker Tim Leissner Banned for Life in Hong Kong

04/07/2019

Leissner’s conduct in relation to the Malaysian state fund 1MDB called into question his fitness and properness to be a licensed person, the SFC said.

Market Infrastructure

RBI to Review Framework for Core Investment Firms

04/07/2019

Concerned that oversight of increasingly complex core investment firms is now inadequate, the RBI has set up a working group to review its framework.

Fintech / Regtech

Asia Ahead of Other Regions in FinTech: IMF

04/07/2019

Policymakers are facing a balancing act between keeping up with the pace of fintech development and trying to ensure risks are well understood and mitigated.

CBIRC to Tighten Rules on ‘Cash Management Products’

04/07/2019

CMPs are issued by banks, offering higher yields than money market funds and promising a high level of liquidity, but there are no restrictions on how CMP funds can be invested.

Enforcement

Hong Kong Hedge Fund Penalised by CFTC, CME

04/07/2019

Elephas Investment Management was found to have violated wheat futures speculative position limits established by the CFTC.

Market Infrastructure

ASIC Proposes Licensing Relief for Foreign Funds Managers

04/07/2019

ASIC proposes to exempt foreign fund management providers from the requirement to hold an AFS licence to provide services to professional investors in Australia.