Credit Risk

AFMI Issues Guidelines for Funds on Debt Write-Offs, Haircuts

07/05/2019

The Association of Mutual Funds in India has issued new guidelines on how fund managers should write down debt and take haircuts for sub-investment grade securities.

Liquidity Risk

PBOC Cuts Reserve Requirement Ratios for Smaller Banks

07/05/2019

China’s central bank has cut the reserve requirement ratio for smaller, locally focused banks. This is the sixth RRR cut since the start of 2018.

Trading & Investment

Malaysia to Use Blockchain in Securities Borrowing and Lending

07/05/2019

Working with bank stakeholders, Bursa Malaysia is developing Southeast Asia’s first blockchain proof-of-concept for securities borrowing and lending.

Market Abuse

Temporary Relief to NSE Directors, Brokerages in Algo Case

07/05/2019

Three brokerages facing market bans had asked for a temporary stay to close out open futures and options positions.

Anti-Money Laundering

Malaysia Extradites Former Goldman Banker to US

07/05/2019

Extradited from Malaysia, the former Goldman Sachs banker Roger Ng has pleaded not guilty to 1MDB-related charges in the US, and has been released under house arrest.

Anti-Money Laundering

Philippine FIU Seeks an End to Bank Secrecy Law

07/05/2019

The AML Council is seeking additional powers to combat financial crime, including the lifting of the bank secrecy law, which would allow it to check all accounts regardless of transaction thresholds.

Trading & Investment

BSEC Publishes Draft Rules on Securities Short Selling

07/05/2019

The draft rules set out requirements for brokers and dealers in relation to short selling of securities, which is currently prohibited in Bangladesh.

PEPs & Sanctions

US Judge Subpoenas Chinese Banks in Sanctions Probe – Report

07/05/2019

A US federal judge has ordered three Chinese banks to provide documents in relation to a Hong Kong company which allegedly helped North Korea evade international sanctions.

Trading & Investment

SGX Central Depository Moves to Digital Account Opening

07/05/2019

CDP account opening can now be done online without paper documents, allowing for greater convenience, security and “a better experience” for retail investors.