Securities / Derivatives

India Raises FPI Investment Limits for Govt, Corporate Debt

17/04/2018

Investment limits raised almost 10% effective 12 April, with additional increases set for October.

Enforcement

SFC Reprimands, Fines Nomura’s Instinet $2.2mn

16/04/2018

The firm failed to put in place reasonable controls to ensure non-proprietary orders received execution priority, prevent erroneous and disorderly orders being sent to the market.

Market Infrastructure

Australia to Review Lack of Competition in Banking Sector

16/04/2018

The ACCC will examine a potential oligopolistic structure in Australia’s banking sector and review competitive practices that have allegedly led to higher barriers to entry for newcomers.

Enforcement

CBA, ANZ to Pay Compensation for Missing Financial Advice Records

16/04/2018

CBA and ANZ to pay $69mn and $36.4mn compensation, respectively, for failing to provide documentation of annual customer reviews.

Capital / Liquidity

China to Revive QDII Scheme for Outbound Investment

15/04/2018

SAFE has invited financial institutions to seek new quotas under the scheme; institutions’ total QDII quota to be capped at 8 percent of fund assets, will not be allowed to apply for fresh quotas if under 70 percent of existing allocations are used up.

Fintech / Regtech

HKMA, HKEX Adopt New Messaging Standard

13/04/2018

Monetary authority and stock exchange to use messaging system across cross-border payments and remittances, support ‘open banking’.

Capital / Liquidity

Sri Lanka Makes Credit Ratings Compulsory for Finance Companies

13/04/2018

Licensed finance companies are required to enter into agreement with reputed credit agencies to obtain ratings by 30 April.

Enforcement

Taiwan Regulator Censures 54 Managers at State Owned Banks

12/04/2018

Taiwan FSC censured and demoted 54 managers at seven state banks for their involvement in a $679mn syndicated loan-fraud scandal.

Market Infrastructure

CPMI-IOSCO Publish Multi CCP Stress Testing Framework

12/04/2018

Framework supports stress tests examining potential macro-level impact of common stress event affecting multiple CCPs to gauge interdependencies between markets, CCPs and other entities.