Anti-Money Laundering

Citi Sent 99pc of Westpac Transfers That Breached AUSTRAC Requirements

04/12/2019

Citi is not under investigation, though AUSTRAC has criticised the bank for not providing sufficient information about the payments and the source of funds.

Fraud, Scams & Cybercrime

Major Indian Bourses Suspend Karvy Trading Licences

04/12/2019

BSE, NSE, MCX, MSEI suspend Karvy Stock Broking; NSDL returns to 90% of clients the securities that were illegally pledged at lenders by Karvy.

Alternative Markets

Indonesia Mulls New Singapore-Style Sovereign Wealth Fund

04/12/2019

According to reports, the proposal is backed by three ministries and seeks to ensure greater support for local technology startups and overly indebted SMEs.

Trading & Investment

KRX Introduces Measures to Stimulate Repo Markets

03/12/2019

Korea Exchange has expanded the scope of investors permitted to participate in its repo market to include pension funds, insurance companies and collective investment vehicles.

Resolution & Recovery

India’s DHFL to Undergo NCLT Bankruptcy Proceedings

03/12/2019

The National Company Law Tribunal has allowed the RBI to start insolvency proceedings against the troubled mortgage lender Dewan Housing Finance Limited under the new bankruptcy rules for financial firms.

Credit Risk

China to Double Number of Firms Allowed to Securitise NPLs

03/12/2019

Standard Chartered and the four large national bad debt managers are among the firms allowed to sell NPL-backed securities as China looks to expand its 2016 plan to clean up bank balance sheets.

Structural Regulation

Korea FSS Pledges to Improve Environment for Foreign FIs

03/12/2019

At a meeting with bank and asset manager heads, the FSS promised to lower regulatory and operational barriers for foreign firms looking to enter Korea’s financial markets.

Structural Regulation

China Issues Measures to Clean Up Credit Ratings Industry

03/12/2019

The measures are part of China’s efforts to clean up the ratings industry and open up to foreign competition, in order to boost foreign participation in the domestic bond markets.

Trading & Investment

SEBI Sets Earlier Cut-Off Time for Commodity Margin Computations

03/12/2019

The 5pm cut-off, compared to 11.30pm currently, will make it easier for trading members to compute and collect client margins, effective from April 2020.