AML / KYC

MAS Hits Former Credit Suisse Banker with Prohibition Orders

07/05/2018

Former representative deliberately concealed identity of beneficial owner on three accounts, making it difficult for the bank to monitor and detect suspicious transactions.

Market Infrastructure

SEBI Issues New Risk Management Guidelines for Derivatives

04/05/2018

Guidelines to take effect in June specify margin calculation methods, collection and enforcement norms, and method of calculation of trading and clearing members’ liquid net worth, effective from June.

Securities / Derivatives

Indonesia Scraps Margin Call Requirement for Options

04/05/2018

OJK amended rules for trading in options, doing away with the 10% margin call requirement. The move is expected to stop the flow of options trading to other markets that don’t have the requirement.

Capital / Liquidity

CBA Ordered to Boost Capital Until Governance Improves

02/05/2018

Prudential inquiry reveals widespread complacency, inadequate risk management, unclear executive level accountabilities, among other failings at the bank.

Market Infrastructure

Singapore to Mandate Central Clearing of OTC Derivatives

02/05/2018

Mandatory clearing to apply to SGD and USD fixed-floating interest rate swaps; applicable to banks with OTC derivatives exceeding SGD20 bn.

Securities / Derivatives

PBOC Announces Stricter Asset Management Rules

02/05/2018

New rules include leverage limits, a ban on implicit guarantees, risk reserve provisioning amounting to 10% of management fees; transition period for full compliance to last until end-2020.

Market Infrastructure

SEBI Extends Deadline for Monitoring Foreign Investment Limits

02/05/2018

Extension to give listed companies more time to provide data to depositories on foreign investment; data to enable daily calculation of foreign investment in listed companies.

Big Picture

Moody’s Places HK Banks on Review for Upgrade

01/05/2018

Hong Kong legislation enables authorities to achieve orderly resolution in the event of a bank failure and provides clarity on the effect on depositors and other creditors.

Enforcement

Chinese Exchanges Toughen ‘Abnormal Trade’ Monitoring

01/05/2018

SZSE and SSE have strengthened rules for member firms on monitoring key accounts for abnormal trading and market manipulation.