Market Infrastructure

LSEG Technology Announces New Post-Trade Functionality at SGX

24/12/2018

The new settlement and depository system enables SGX and market participants to align to global market practices, messaging standardisation and T+2 settlement.

Market Infrastructure

KRX May Face CFTC Penalty for Violating CCP Rules – Report

21/12/2018

Korean media reports indicate the CFTC may take action against KRX as early as this month in response to its failures to comply with regulations for CCPs.

Capital / Liquidity

India Seeks Parliamentary Approval to Infuse More Capital into Banks

21/12/2018

The government plans to pump $11.8 billion into public sector banks to raise them out of the RBI’s PCA framework and increase the banking system’s lending capacity.

Securities / Derivatives

Licensees Should Avoid Employee Allocations in Equity Raising – ASIC

21/12/2018

Following a review of allocations practices in equity raising transactions, ASIC said allocations to employees should be avoided as they can present conflicts of interest.

Capital / Liquidity

S. Korea to Adopt IRRBB Standards in Mid-2019

21/12/2018

The FSS plans to revise banking supervision bylaws during Q1 2019, with implementation of IRRBB at domestic banks expected in mid-2019.

Market Infrastructure

All SWIFT Banks to Adopt gpi Payments by End-2020

20/12/2018

Over half of SWIFT’s cross border traffic now goes through as gpi payments, with full adoption by its 10,000 member banks expected by end-2020.

Market Infrastructure

HKMA to Require Banks to Report on Culture Reform

20/12/2018

First phase of bank culture self-assessments will cover about 30 institutions, including all major retail banks and selected foreign bank branches.

AML / KYC

Taiwan FSC to Amend Rules on Beneficiary Disclosure

20/12/2018

Insufficient disclosures of corporate clients’ beneficiaries by financial institutions was cited as one of Taiwan’s shortcomings in the APG’s latest report.

Securities / Derivatives

Licensed Corporations Should Carefully Review Internal Controls – SFC

20/12/2018

The SFC has reviewed brokers’ internal control systems and found they are not adequately protecting client assets, supervising their staff or incentivising good compliance culture.