Structural Regulation

New Zealand to Introduce Licensing Regime for Financial Advisers

24/06/2019

The new regime will require all New Zealand financial advisers to be licensed by the FMA, effective from June 2020.

Trading & Investment

Hong Kong SFC Releases 2018-19 Annual Report

24/06/2019

The SFC is working to introduce an investor identification regime for southbound Stock Connect trading in mid-2019, and considering adopting a market-wide circuit breaker mechanism.

Market Abuse

Shanghai Court Jails Former UBS Banker for Insider Trading

24/06/2019

The banker disclosed deal information to two associates in 2017, allowing them to profit from inside information related to Cosco Shipping’s acquisition of Orient Overseas.

Payments & Settlements

Mirae Asset Daewoo to Launch Payments Business

21/06/2019

The FSC lifted restrictions barring brokerage firms from entering the payments business last December. WeChat Pay will be used in Mirae Asset Daewoo’s new payment gateway.

Capital Adequacy

BCBS Agrees to Revise Leverage Ratio, Disclosure Requirements

21/06/2019

Margin received from clients allowed to offset cleared derivatives exposure used to calculate leverage ratio. New disclosure requirements will address leverage ratio window dressing.

Conduct, Culture & Accountability

FMSB Issues Draft Good Practice Statements on Conflicts of Interest

21/06/2019

The FICC Markets Standards Board provides new guidance to help market participants identify, prevent, manage and mitigate conflicts of interest.

Clearing & Post-Trade

BOC Becomes LCH’s First Chinese Clearing Member

21/06/2019

Bank of China now has access to clearing of interest rate derivatives at LCH, and can act as a clearing broker to offer the service to its clients.

Trading & Investment

RBI Retail FX Trading Platform Set for 5 August Launch

21/06/2019

The RBI has said that FX-Retail, the electronic platform for retail foreign exchange trading, will be launched on 5 August.

Market Abuse

US SEC Charges Five Asian Traders for Market Manipulation

21/06/2019

The SEC has charged three Malaysians, one Singaporean and one Chinese national with violating antifraud and market manipulation provisions.