Market Infrastructure

US SEC Sets May 2024 Target for Move to T+1 Settlement Cycle

16/02/2023

SEC commissioners Hester Peirce and Mark Uyeda say the 28 May 2024 effective date does not leave enough time for the market to transition.

NZ FMA Finalises New Reporting Requirements for Advisers

16/02/2023

The FMA said the first regulatory returns will be due by 30 September 2024, for the 12-month period ending 30 June.

Crypto / Digital Assets

US SEC Proposes to Tighten Custody Rules Including for Crypto

15/02/2023

The proposed change is expected to make it more difficult for asset managers to invest in crypto assets on behalf of clients.

Market Infrastructure

ASIC to Modify Scope of Clearing Derivatives Obligation

15/02/2023

ASIC proposes to replace products referencing USD LIBOR with OIS contracts referencing SOFR, and to remove AUD forward rate agreements.

Securities / Derivatives

CSRC Seeks Assurances from Warburg Pincus for Local Acquisition

15/02/2023

Warburg Pincus is planning to acquire a 23.3 percent stake in Zhong Ou Asset Management Co from Italy’s Intesa Sanpaolo.

ESG / Sustainability

Singapore Taskforce Issues Final Consultation on Green Taxonomy

15/02/2023

This third consultation seeks views on thresholds and criteria for five sectors. GFIT intends to publish the final taxonomy by 1H 2023.

Crypto / Digital Assets

FSS Korea to Prepare Industry Guidance on Security Tokens

15/02/2023

The FSS has formed a task force to support the industry in making determinations on whether virtual assets are securities.

Fintech / Regtech

UK Proposes Draft Legislation to Regulate BNPL Products

15/02/2023

The legislation will bring BNPL products under the FCA’s regulatory remit, and require BNPL providers to conduct affordability checks.

Market Infrastructure

Beijing Bourse Launches Margin Trading, Securities Lending

15/02/2023

On Monday, eligible securities firms were for the first time allowed conduct margin trading and securities lending transactions on the Beijing Stock Exchange.