Market Infrastructure

Implementation of Secondary Market Principles “Generally High” – IOSCO

13/02/2019

IOSCO has identified some gaps in the implementation of its ‘Secondary and Other Market Principles’, particularly in nascent and emerging market jurisdictions.

Enforcement

Sydney Deutsche Bank Trader Convicted for Falsifying Trades

13/02/2019

A former FX options and futures trader has received a 2-year suspended sentence for falsifying entries in Deutsche Bank’s internal records.

Enforcement

UPDATED – Multiple Indian Banks Penalised for Rule Violations

13/02/2019

The latest penalties involve banks’ non-compliance with RBI directions on the monitoring of borrowers’ end use of loan funds, as well as failures related to KYC/AML compliance.

Capital / Liquidity

Vietnam Banks Urge Government to Lift Foreign Ownership Ceiling

13/02/2019

Vietnam’s largest banks are pushing the government to allow them to sell more equity to foreign banks to bolster their capital levels.

Securities / Derivatives

SEBI Proposes Caps to Curb Volatility in Futures, Options

13/02/2019

Among the measures proposed is a circuit breaker capping maximum daily movements at 20 percent for all stocks, including those on which derivatives trading is available.

Securities / Derivatives

China Encourages Foreign Firms to Issue Panda Bonds

12/02/2019

Overseas non-financial enterprises will be able to issue panda bonds within one year of registering with NAFMII, and use the proceeds either in China or abroad.

AML / KYC

China Toughens Penalties for Underground Banks

12/02/2019

Operators of underground banks engaging in illegal forex trading and cross border transfers will face up to 5 years imprisonment, more in the most serious cases.

Enforcement

APRA Issues Update on Implementation of Hayne Recommendations

11/02/2019

APRA details the work already underway to implement the Recommendations and confirms it is examining the 12 matters referred by the Royal Commission.

Market Infrastructure

RBI Eyes Holding Company Model for India’s Banks

11/02/2019

The RBI wants banks to operate as subsidiaries of financial holding companies, with other business arms also split off into separate subsidiaries.