Market Infrastructure

CPMI, IOSCO Consult on Governance of OTC Derivatives Data

20/08/2018

New consultative document identifies key criteria, functions and bodies for the governance arrangements for critical OTC derivatives data elements data, other that UTI and UPI.

Fintech / Regtech

China Seeks ‘Bad Bank’ AMCs’ Help to Resolve P2P Crisis

20/08/2018

The government is asking the 4 state-owned asset managers set up in 1999 to repair bank balance sheets for help with custody, liquidation and restructuring of P2P assets.

Capital / Liquidity

China Banks Holding Bad Loans in Record Numbers

16/08/2018

Loans classified as non-performing jumped to $284bn at banks, up 10% during the second quarter. Banking regulator says asset quality is “stable”.

Enforcement

UPDATED – CSRC Hits Celebrity Trader with $260mn Market Manipulation Penalty

13/08/2018

Celebrity trader Gao Yong used his control over 16 securities accounts to manipulate stock prices, profiting by almost CNY 900 million in just six months.

Securities / Derivatives

Stock Connect ID System for Northbound Trades Slated for September Launch

13/08/2018

Northbound investor ID system is scheduled to be implemented on 10 September, pending market readiness and regulatory approval, and will not affect the business of existing market participants.

Capital / Liquidity

Indian Government Urges RBI to Ease Bank Capital Rules

10/08/2018

Under Basel III rules, banks would need to hold CET1 capital of 4.5% of RWAs, compared to the 4.5% now required of Indian banks.

Market Infrastructure

CFTC to Simplify Registration Exemption Process for non-US Clearing Firms

10/08/2018

CFTC proposal seeks to make it easier for non-US firms to navigate the process for obtaining exemptions from registration as derivatives clearing organisations.

Securities / Derivatives

China Approves Asset Managers to Offer Target Pension Products

09/08/2018

Fourteen asset managers have received approval to launch pension target funds, which will improve A-share liquidity and offer consumers more pension management alternatives.

Enforcement

PBOC Imposes More Fines on Payments Firms

09/08/2018

Alipay, Union Mobile Financial Technology, and Gopay.com were fined more than a combined $11 million for various breaches in payment services regulation.