Market Infrastructure

Hong Kong to Launch Dual Counter Trading in H1 2023

03/10/2022

A market-maker system will be established to facilitate yuan-denominated stock trading. Stamp duty will be waived for market makers providing liquidity for yuan shares.

Securities / Derivatives

India Allows FPIs to Trade Commodity Derivatives Market

03/10/2022

Since 2018, FPIs been allowed to trade exchange-traded commodity derivatives but only to hedge actual underlying exposures to physical commodities.

Capital / Liquidity

Large Global Banks See Highest Capital Ratios Since 2012: BCBS

03/10/2022

A special feature in the latest Basel III monitoring report reveals that crypto exposures are small, around 0.14% of total exposures on a weighted average basis.

Securities / Derivatives

Taiwan Tightens Short Selling Rules to Stabilise Market

03/10/2022

The measures tighten limits on the volume of intraday securities lending orders, and raised the margin requirements on securities lending.

Singapore Tightens Mortgage Rules to Ensure Prudent Borrowing

03/10/2022

Lenders will have to assume higher interest rates when assessing borrowers’ repayment ability. The LTV limit for HDB housing loans has been lowered.

Capital / Liquidity

APRA Removes CBA’s Remaining A$500m Capital Add-on

03/10/2022

The A$1bn capital add-on imposed on CBA in May 2018 was halved in November 2020, and has now been completely removed.

Market Infrastructure

1M, 6M Synthetic GBP LIBOR to Cease at End March, FCA Says

03/10/2022

The FCA is still considering when to cease the 3-month synthetic GBP LIBOR setting, and whether to compel IBA to produce synthetic USD LIBOR settings after mid 2023.

Enforcement

US SEC Fines Deloitte China Over Audits of US-Listed Companies

02/10/2022

Deloitte China personnel asked certain Chinese clients to select their own samples for testing and prepare their own audit documentation.

Enforcement

US SEC Fines Barclays $361m for Securities Over-issuances

02/10/2022

Barclays did not have controls in place to track offers and sales of securities against the amount of registered offers and sales.